New Zealand National Party

Media Release

14 September 2017

Two taxes down, five to go

The Labour Party has postponed two new taxes but has left five more in place that would slow down the New Zealand economy and restrict growth, National Party Finance spokesperson Steven Joyce says.

“They’ve postponed the introduction of two taxes but have reaffirmed their intention to impose a water tax, regional fuel tax, tourism tax, income tax increases, and bringing farming into the ETS,” Mr Joyce says.

“In particular, Labour keeps denying they are putting up income taxes but they have today confirmed again that would legislate to remove the tax threshold changes that occur on April 1. That means someone on the average wage would be $1060 a year worse off if Labour becomes the Government.

“They’ve begun the long march back but they’ve got a long way to go.

“This is about the fifth version of their tax policy in the last month. They are just too vague on a whole range of policies and it shows.

“It’s interesting that it was a “captain’s call” to allow for a capital gains tax but the captain was nowhere near the back down.

“We know that Labour desperately want to put a capital gains tax and an inheritance tax on farms, small businesses and the family bach. They have had it in their policy for two elections and they have only dropped it this time because they were rumbled by the public.

“The public simply can’t trust Labour on tax.

“The big puzzle that remains is why Labour wants to restructure the New Zealand economy.

“Even Labour agrees that by nearly all measures New Zealand’s economy is performing well. They need to explain why they are proposing such a major change in economic direction in tax policy, trade policy, industrial relations, spending and debt.

“Voters have a clear choice in this election. They can keep New Zealand moving forward with a strong National government or change direction and go backwards under Labour.”

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