19 May 2005

Budget 2005: Insult to working NZers

“This Budget is slow Punch and no Judy. Frankly, working New Zealanders should feel insulted they’ve had to wait so long, to be promised so little,” says National Party Finance spokesman John Key.

“It confirms that Labour has blown all the gains from a relatively buoyant economy, and it is further evidence that Labour has no ability to set sensible spending priorities.

“This is a Budget all about lost opportunity. Small, begrudging changes have been made to taxes only because National is breathing down Labour’s neck.

“Laughably, the ridiculously small tax changes will not kick in for another three years. It’s now clear why Michael Cullen did not want to promote this Budget - it’s a joke.

“By the time we see any tax adjustment, we will have paid for it in spades - through things like the carbon tax, or any of the 30 odd taxes and levies that Labour has increased.

“Helen Clark is sending all the wrong messages to working New Zealanders. Budget 2005 is not the game breaker it should have been.

“It is telling taxpayers that they can earn it, but they won’t get to spend or save it.

“Labour is telling workers not to take the promotion, and telling entrepreneurs not to take a risk because, in the end, it will not be worth their while.

“Little wonder that around 600 Kiwis leave for Australia every week. This Labour Budget will give more Kiwis wings so they can migrate across the Tasman.

“Having failed to set sensible spending priorities, Labour’s key strategy in this Budget is its hollow claim to be a champion of the savings and ownership society.

“Of course savings should be encouraged, but the fastest way to increase savings is to raise the wages of the low income earners,” says Mr Key.

ENDS

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