17 Nov 2010

Tax rebates to be considered for financial services hub

8:42 pm on 17 November 2010

The Government will consider tax rebates - as it did for the The Hobbit films - to help develop Prime Minister John Key's pet project of a financial services hub.

Mr Key has said a financial services hub could create thousands of jobs and millions of additional tax revenue for the Government.

But a report due to be considered by the Cabinet says a number of measures need to be looked at first.

They include tax rebates similar to those extended by the Government to Warner Bros to secure the Hobbit's filming in New Zealand.

The report says the size of the rebate should be linked to the number of jobs created.