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Budget Surplus Should Pay Back Debt

Budget Surplus Should Pay Back Debt And Provide Tax Relief to New Zealanders

Reacting to the statements from the Prime Minister and Minister of Finance confirming that Thursday’s budget will be in surplus, Jordan Williams, Executive Director of the Taxpayers’ Union says:

“Assuming the budget shows surpluses extending past 2014, the Government should signal that a significant portion of the surplus will be used to pay down debt and give tax relief to those who earned it.”

“By definition, a budget surplus is excessive taxation for what the Government is doing. As we go into the election campaign, the focus should be on getting the most bang for our buck and reducing the tax burden, not dreaming up new ways to increase spending to reduce the surplus.”

“New Zealanders have battled through the global financial crisis and economic downturn the last few years. Now that the Government can afford it, Kiwis, not politicians, should be able to spend the rewards."

ENDS

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