The government’s legislation to respond to the scandal over foreign trusts, as revealed in the Panama papers, was agreed yesterday. This is, as we have come to expect, too little and too late.
BARRY COATES (Green): Tēnā koutou e ngā mema Pāremata. I rise to speak about the tax bill.
Mr DEPUTY SPEAKER: A 5-minute call.
The Panama papers revealed the sordid detail of the policies of this government. John Key’s personal lawyer lobbied for nothing to be done, even though the Greens and IRD had warned of the damage to our international reputation. NZ was advertised around the world as a good place to park your billions without any tax authorities knowing. We became part of the massive problem of tax havens, allowing the wealthy to get away with paying little tax while wage and salary earners shoulder most of the load.