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 Last Rites For The TPP

The Trans Pacific Partnership trade deal is one of those litmus issues that has always had more to do with one’s place on the political spectrum than with any imminent reality.

To date, the Greens have opposed (a) a wide range of the leaked content of the TPP (b) the secretive way it has been negotiated and (c) the undemocratic way in which any final document would be ratified. Labour has shared some of those concerns, but while remaining generally supportive of the deal itself.

National has, for its part, been very enthusiastic about the TPP, while still giving assurances about Pharmac being protected... For the TPP’s friends and foes alike though, the end now seems nigh. More>>

 
 

Gordon Campbell: On The Farcical Elevation Of David Seymour

With the election won, it’s time to find jobs for the boy. David Seymour is the Act Party’s latest scrounger to be rewarded by the National Party, and not only with a seat in Parliament. More>>

ALSO:

As Key Mulls Joining ISIS Fighting: McCully Speech To UN Backs Security Council Bid

It is an honour to address you today on behalf of the Prime Minister and Government of New Zealand. Our General Election took place last week - our Prime Minister Rt Hon John Key is engaged in forming a government and that is why he is unable to be here in New York... More>>

ALSO:

Labour: Cunliffe Triggers Party Wide Leadership Contest

David Cunliffe has resigned as Labour Leader, but says he will seek re-election... If there is any contest the election will have to go through a process involving the party membership and union affiliates. More>>

ALSO:

Flyover Appeal: Progress And Certainty, Or Confusion And More Delays?

Lindsay Shelton: The Transport Agency, embarrassed by the rejection of its flyover alongside the Basin Reserve, says it’s appealing because the decision could “constrain progress.” Yet for most clear-sighted Wellingtonians a 300-metre-long concrete structure above Kent and Cambridge Terraces would in no way be seen as progress… More>>

ALSO:

Gordon Campbell: On Cunliffe’s Last Stand

Right now, embattled Labour leader David Cunliffe has three options. None of them are particularly attractive for him personally, or for the Labour Party... More>>

ALSO:

Key Seeking 'New Ideas': Look To Children’s Commissioner On Poverty - Greens

John Key should not reinvent the wheel when it comes to ideas for tackling child poverty, and instead look to the recommendations of the Children’s Commissioner’s Expert Group on Child Poverty, Green Party co-leader Metiria Turei says. More>>

ALSO:

'Safe To Re-Enter' - OIA Docs: Safety Is Absolute Priority At Pike River Mine

“We understand that the time it is taking to complete our evaluation of the risks is frustrating for the family members and we are trying to complete this work as quickly as we can,” Ms Dunphy says. “It is Solid Energy’s responsibility to make this decision and we will do so, once we have all the information required to make a fully-informed decision.” More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
More RSS  RSS
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news