John Key MP
National Party Finance Spokesman

19 July 2005

Pledge card promise on tax was ‘worthless’

National Party Finance spokesman John Key says Labour’s previous pledge card promises on tax have proved to be worthless.

“In 1999, Labour promised ‘no rise in income tax for the 95% of taxpayers earning under $60,000 a year. No increases in GST or company tax’.

“That promise went out the window pretty quickly. Now 11% of all taxpayers or 22% of full-time workers are paying the top tax rate - not the 5% Helen Clark talked about.

“On top of that businesses and consumers will be clobbered with a carbon tax, investors will pay a tax on shares held offshore and more than three dozen other taxes and levies have been created or have increased.

“Labour’s pledge card isn’t worth the paper it’s written on,” says Mr Key.

ENDS

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