Parliament

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

 

National’s partners’ tax plans cost at least $42 billion

National’s partners’ tax plans cost at least $42 billion


If National forms the next government its partners’ tax plans will cost the country at least $42 billion, and maybe as much as $50 billion, wreaking havoc with the books, says Labour’s Finance spokesperson David Parker.

“National claims to be extremely concerned about the fiscal prudence of the next Labour Government. This is despite Labour producing a fully costed alternative budget with headroom for coalition arrangements after the election.
“National refuses to say how its tax and spending plans match up with its partners. It should really take a look at the obligations it may have to fulfil in any coalition arrangement with its likely partners ACT, the Conservatives and United Future.

“To please the politically naïve yet stubborn Conservatives, National would need a tax-free threshold up to $20,000 with a flat tax rate of 25 per cent thereafter. That would cost at least $6.5 billion a year even though this would actually increase taxes on incomes between $20,000 and $48,000.

“Then to mollify the ACT party National would have to cut tax on earnings above $70,000 to 20 per cent which would cost an additional $1.3 billion.

“The ACT leader has said the party’s top priority in government is to lower the tax paid by corporations to 20 per cent costing around $2.8 billion a year rising to over $5 billion when cut to 12.5 per cent in 2017/18.

“All up these tax promises cost at least $10.5 billion a year which works out over four years to at least $42 billion, and possibly as much as $50 billion by end of the 2018/19 financial year. And that is without including the forgotten Peter Dunne who wants to introduce the regressive income-tax ‘splitting’ measure which Treasury said would cost around $500 million a year
“The total does not include the cost of any hidden surprises like Charter Schools that National is keeping secret from the public until after the election either.

“National has run a relentlessly negative campaign because it does not want to be up front with New Zealanders. Voting has already started yet National has still not released its fiscal plan for the next term. That is why National has resorted to misrepresenting Labour’s policies,” says David Parker.

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The West’s Role In Arming Khashoggi’s Killers

The cliché about one death being a tragedy and a million deaths only a statistic has been demonstrated in spades by the murder of the Saudi journalist Jamal Khashoggi.

Of all the crimes committed over the past decade by the Saudi regime, it has been this revenge killing ordered by the Saudi Crown Prince Mohammed bin Salman that has finally brought universal condemnation. More>>

ALSO:

.

 
 

MP Reportedly In Mental Health Care: Speaker Of The House Seeks Advice

After unleashing a volley of damaging allegations against his former leader, National's Simon Bridges, and his party, Jami-Lee Ross was reportedly taken into mental health care over the weekend. More>>

Gordon Campbell: On Jami-Lee Ross (And The New Hobbit Law)

Clearly, Jami-Lee Ross is not waging a normal form of political warfare, with agreed rules of combat and rational cost/benefit calculations.

This is politics-as-terrorism where everything is being sacrificed by the man in the bomb vest in order to remove Simon Bridges as the leader of the National Party. More>>

ALSO:

Film Industry Working Group:

Three Killed: DOC Supporting Family, Colleagues After Helicopter Crash

The Department of Conservation (DOC) is rallying around family and colleagues of the staff who died in a helicopter crash this morning in Wanaka... The helicopter, with two DOC staff on board, was on its way to undertake tahr control in the Haast area when it crashed. More>>

ALSO:

Political Donations: Greens Call For Tighter Anonymity Rules And Public Funding

“It is clear that those vested interests have a tangible influence on the decision making of political parties. This is a threat to democracy and should change.” More>>

ALSO:

Education Amendment Bill Passes: Urgency Sought For Partnership School Treaty Claim

The claim takes issue with the acts and omissions of the Crown in respect of the closure of Partnership Schools | Kura Hourua. More>>

ALSO:

Salvation Army Paper: Call For Public Housing Investment

To meet these future demands the report suggests the government needs to look beyond the private rental market and begin to invest heavily into home-ownership programmes and more public and social housing. More>>

ALSO:

Cull: Himalayan Tahr Control Operation Proceeding

“The target of controlling 10,000 Himalayan tahr over the next eight months remains. The revised plan provides for a staged control operation with increased reporting to the Tahr Liaison Group...” More>>

ALSO:

Health: Petitions To Fund Breast Cancer Drugs

Women marching to Parliament today, to present two petitions calling for Government funding of vital medicines, have 100% support from a coalition representing than 30 breast cancer organisations. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels