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

 

Two Years With New Methods: Crime Stats Show Increase Led By Burglary

The two years of data show an increase in the total victimisation rate of 3.1 per cent, with 12,060 more victimisations in the 2015/16 year when compared to 2014/15 year. From this increase, 72 per cent is attributable to burglaries. More>>

ALSO:

Auckland Relocation Grants: 12 Grants Paid So Far

Since the policy took effect one month ago, 12 applicants have received the non-recoverable grant, supporting 32 people. $54,508 has been paid out, covering things like moving costs, bond, rent in advance and letting fees. More>>

ALSO:

Vaccine Funding Change: HPV Vaccines For All Children

PHARMAC has today announced changes to funded vaccines, which will benefit an extra 100,000 people... The human papillomavirus (HPV) vaccine will be available for all children and adults up to the age of 26 years, and boys will now be included in the HPV school vaccination programme. More>>

ALSO:

Gordon Campbell: On Why The Opinion Polls For Key And Trump Defy Gravity

What is going on? Donald Trump got confirmed as the Republican presidential candidate at a bizarrely chaotic political convention… and promptly received an upwards bump in the polls to where he’s now rating ahead of Hillary Clinton, for only the second time this year. More>>

Sugar: Auckland Leisure Centres Axe Unhealthy Drinks

Auckland Council is to stop selling drinks that are sweetened by sugar from vending machines at its leisure centres in a bid to try to reduce obesity and type 2 diabetes... More>>

ALSO:

Gordon Campbell: On Todd McClay’s Faulty Memory

Time and again, whenever an issue arises the initial response by government is to deny or diminish the problem – nothing to worry about here, everything’s OK, move on. Then, hang on. In line with the usual pattern, as embarrassing details emerged into daylight, the story changed. More>>

ALSO:

Labour's 'Future Of Work': Major Reform Of Careers And Apprenticeships

The next Labour Government will transform careers advice in high schools to ensure every student has a personalised career plan, Leader of the Opposition Andrew Little says. More>>

ALSO:

State Investments Management: Treasury Likes IRD, Not Education Or Corrections

The Inland Revenue Department has scored an 'A' in the first tranche of the Treasury's investor confidence rating for state agencies that manage significant Crown investments and assets, gaining greater autonomy as a result, while the Corrections and Education ministries gained a 'C' rating. More>>

ALSO:

Govt Goal: NZ To Be "Predator Free" By 2050

Prime Minister John Key has today announced the Government has adopted the goal of New Zealand becoming Predator Free by 2050... “That’s why we have adopted this goal. Our ambition is that by 2050 every single part of New Zealand will be completely free of rats, stoats and possums." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news