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NZ taxes rise faster than others in the OECD


NZ taxes rise faster than others in the OECD

"The OECD's latest Taxing Wages Publication shows the tax rate faced by the average single New Zealand worker has now increased at the fastest rate of any developed OECD country for two years running," says National Party Deputy Finance spokesman John Key.

The same report shows average tax rates were unchanged or falling for most countries.

"Michael Cullen should stop gloating about New Zealand's relatively low national average tax rate by international standards. That was the achievement of a previous National Government.

"The reality is that after sharp falls in tax rates during the 1990s under the National Government, average tax rates for those on salaries and wages have increased significantly under the present Government.

"As a result, New Zealand's average tax rate ranking against other countries has deteriorated.

"Information provided by Michael Cullen's office shows Labour's new taxes have collected $2,600 on average from every household - most struggling families could make good use of that.

"National is absolutely committed to reducing tax. "Our top priorities are tax relief for low-to-middle income families and a cut in corporate tax rates to boost business investment. Gradual reductions in the higher personal tax rates will follow as the fiscal situation permits," says Mr Key.

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