Lower unemployment? Time for tax cuts

The Government’s strong employment figures, on top of the recovering milk prices, are another reason we should cut taxes, says ACT Leader David Seymour in the wake of new employment figures.

“As more people move into employment, the Government sucks up extra revenue from income tax and spends less on benefits. That creates space to give workers some long-awaited tax relief.

“Taxpayers shouldn’t have to wait eight years between tax cuts, especially when the economy’s going well. Instead of dangling a promise of tax cuts after the election, the Government could show it’s serious by starting a programme of tax cuts today.

“For example, the Government could adjust the tax brackets so that the top rate cuts in when you earn $100,000, instead of just $70,000. It’s crazy that people earning $70,000 start paying the 33% tax rate, once reserved for ‘rich pricks.’

“The Government is right to harp on about a strong economy and lower unemployment, but they shouldn’t use it as an excuse to stealthily increase tax revenues. ACT believes that any time the Government gets a revenue boost, it should to some degree be offset by tax cuts.

“Only a governing coalition including ACT will deliver tax cuts next year.”

ENDS

© Scoop Media