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Trick or treat?

Trick or treat?

Tony Milne 08 October 2008

How sad. In a financial crisis brought about in part because of people spending more than they earn National is creating disincentives to save and incentives to consume. How? They are going to significantly change KiwiSaver - one of the most popular and successful Government policies in the last 30 years - and give more tax cuts in a time of large forecast deficits.

In addition they are clearly not interested in economic growth and investing in the future given they want to remove the Research and Development Tax Incentives.

And what are these changes for? A tax cut $16 more than Labour's at full implementation. But that $16 is not purely a tax cut. It is also made up of a rebate designed to exclude the most needy in our society. The "Independent Earner" Government benefit. Gotta love that.

They call it a "rebate" of course. But what is it? It's just for those who don't get NZ Superannuation, Working for Families Payment, or a benefit (including student allowance). Unlike Labour's tax policy, the "Independent Earner Rebate" is a policy designed to increase the gap between the haves and have not's by giving a government payment (benefit anyone?) to those who already have, and specifically excluding the elderly, the disabled, students, working families with children and beneficiaries.

So that is the "change" New Zealanders will get if they elect National in 4 weeks? That is the "brighter future"? 9 years in opposition and that is the best economic plan for the future National can come up with?


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