DAMIEN SMITH: No—compared to Australia, we collect less corporate tax revenue on a comparable like-for-like basis. Our corporate tax rate should be not set to buy votes and score political points but to make us more competitive, rather based on common-sense principles such as encouraging overseas investment in New Zealand, which this bill does not even touch on, and discouraging firms from employing methods to avoid paying the higher rates. This would attract overseas companies, create jobs, and create investment in New Zealand. Our closest partners around the world are cutting tax rates to stimulate their economies, and this Government is doing and has done the opposite. It's an act of economic vandalism. 