John Key’s proposal to appoint a ‘tax expert’ to review our foreign trusts doesn’t go far enough and he must instead launch a full independent inquiry into the details coming out of the Panama Papers, says Opposition Leader Andrew Little.
“New Zealand’s reputation is being sullied around the world. It is essential we regain our international respect and fix these issues.
“One tax expert isn’t going to solve this, especially one appointed by a Prime Minister who doesn’t think hiding their finances behind tax free funds is morally wrong.
“Labour has called for an inquiry as soon as the Panama Papers were released – New Zealanders don’t want the global super-rich hiding their money here and not paying tax.
“A full inquiry must instead assure New Zealanders that everyone pays their fair share and that we are not part of an international tax evasion racket.
“This morning John Key was far too cagey when asked if he has ever used a tax haven for his finances. He needs to clear this up and quickly. He must come clean if he has directly or indirectly benefitted from funds in a tax haven. The last thing our international reputation needs is for rumours to swirl around our Prime Minister’s tax affairs,” says Andrew Little.