Tuesday, October 14, 2008

Maori Party Policy to Introduce Development Bank

The Maori Party unveiled its Family Issues and Economic policies at Te Aranga Marae in Hastings in the Hawkes Bay on Tuesday afternoon.

On tax policy, the party would eliminate income tax on the first $25,000 of income and reduce the business tax on small businesses with net income of less than $100,000 from 32 percent to 25 percent.

A community development bank would also be established to finance whanau and family business to promote economic development. The bank would be funded by re-channeling resources currently flowing through the Ministry of Economic Development to Maori.

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