Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Tax cuts or debt reduction? National confused

Tax cuts or debt reduction? National confused

National is confused about whether or not it will enact tax cuts, the Green Party said today.

“Prime Minister John Key has dangled tax cuts in front of voters,” Green Party Co-leader Dr Russel Norman said.

“Today Finance Minister Bill English said his position hasn’t changed and there will be no tax cut announcement before the election, but then he added that National will be saying a bit more about it before the election.”

“National seem confused about whether they will announce tax cuts. Is there a conflict between Mr English and John Key?

“Mr English is saying debt reduction is a National priority and there is little fiscal headroom for tax cuts, but they may make a tax cut announcement anyway.

“Budget projections show National is already planning to slash health, education and environmental protection by $3.8 billion over the next three years, according to independent economic consultancy BERL?

“So will National add to the pile of debt already accumulated?

“Treasury's Pre-election Fiscal and Economic Update (PREFU) showed that net debt will rise to $67.9 billion in 2018, compared with $12.8 billion when National came to office.

“In six years of National management, net debt per person has risen to $14,368 from $2,994, so is Mr English suggesting we go further into debt?

“In opposition from 1999 to 2008, National repeatedly called for tax cuts, and had the Labour Government heeded that imprudent advice, New Zealand would not have managed to survive the Global Financial Crisis as well as we did.

“As it was, National irresponsibly passed tax cuts, which mainly benefitted the few, and now we have government debt that leaves little room for an incoming Government to manoeuvre.

“The Green Party has released its fiscals showing it will run bigger surpluses than National plans – and substantially bigger if National cut taxes – and we will pay down debt faster.

“The Green Party is the only major party going into the election with a concrete policy to cut income taxes, but our tax cuts are fiscally neutral because they will be balanced by raising revenue.

“Our Climate Change Tax Cut will benefit 97 percent of New Zealand households, on average by $319 a year, as well as helping the environment.

“That package will also see the company tax rate cut to 27 percent from 28 percent,” Dr Norman said.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Syriza Win Greek Election: The Rumblings Of The Left

Binoy Kampmark: The left – and by this, the genuine, progressive, unmanagerial left – is getting noisy. The Greek elections are upon us, with the similar challenges being played out from 2012. There are fears of Grexit – a heavy breathing departure from the eurozone that will do everything to rattle the central currency mechanism that has been taking a battering...

Much of this has been triggered by the moral outrage and political response of the left grouping centred on Syriza of Greece. The movement has been said to have similarities to a new constellation of power in Spain, led by Podemos. Syriza, led by Alexis Tsipras, has promised to renegotiate the terms of Greece’s 240 billion euro international bailout arrangements. Both parties point out to the distance between elector and the elected, a creeping death of democratic accountability in favour of market propriety. More>>

 

Transport: Auckland Looks To Light Rail

The Board of Auckland Transport has called for an investigation into a light rail network, which could relieve traffic congestion on some of the region’s busiest roads. This stems from work in 2012 (the City Centre Future Access study) which responded to a government request to develop a robust and achievable solution for access to the CBD. More>>

ALSO:

RMA: Smith's Claims Don't Match Evidence - Greens

The Motu group’s research into the impacts of planning rules looked at the costs related to housing development but not the benefits of environmental protections and does not recommend significant changes to the RMA to reduce the cost of new house builds. More>>

ALSO:

Gordon Campbell: On The Similarities Between John Key And David Cameron

For years now, David Cameron has been the closest available thing to a mentor/analogue to our Prime Minister, such that Key watchers could be interested in an analysis of Cameron that appeared in the British press over the Christmas break. More>>

Gordon Campbell: On Ian Fletcher Resignation & GCSB’s New Role

It may well be that after being shoulder-tapped in Queensland for the GCSB job, three years of living in Wellington has been enough for Fletcher and his family, given that the pending review of the GCSB would have required an even longer commitment from him. Three years of Wellington’s weather is enough for anyone... More>>

ALSO:

Ian Apperley: $10m Or $100m For New Wellington Council IT System?

I feel a Tui Billboard coming on. I commented the other day that it looked like the Council’s Ninth big project was a potential $100 million plus... The Mayor has responded: “I am reassured by the Chief Executive and by Anthony Wilson that the proposed budget is in the region of $10 million.” More>>

ALSO:

Southern Ocean:
Navy Intercepts Illegal Fishing Vessels

Foreign Minister Murray McCully today put illegal fishing vessels operating in the Southern Ocean on notice and vowed to take action against their owners. “As part of a multi-agency operation, the HMNZS WELLINGTON has intercepted two vessels claiming to be flagged to Equatorial Guinea, fishing illegally in the Southern Ocean.” Mr McCully says. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news