John Key MP National Party Finance Spokesman 15
February 2006
Cullen signals tax threshold change is
history
Finance Minister Michael Cullen has given the
strongest signal yet that the “chewing gum” tax threshold
adjustment in 2008 is history, says National Party Finance
spokesman John Key.
Asked about the future of the tax
threshold adjustment at the finance and expenditure select
committee today, Dr Cullen said there was a “fiscal hole”
left by the axing of the proposed carbon tax.
“This is a
clear signal they are taking the chewing gum out of the
chewing gum Budget,’’ says Mr Key.
“This is pathetic. New
Zealanders stood to gain 67c a week extra in 2008 from
Labour’s deep dark Budget secret.
“Now Dr Cullen is
ruling out giving them anything. This is despite this Labour
Government running the largest surpluses in New Zealand
history.
“New Zealanders will now have to wait nine years
– to see no change in their tax burden. By then, even more
New Zealanders will be in the top tax bracket thanks to
bracket
creep.”
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