MEDIA RELEASE

TIME FOR GOVERNMENT TO DEMONSTRATE ‘PHILOSOPHICAL COMMITMENT’ TO TAX CUTS

26 JANUARY 2017
FOR IMMEDIATE RELEASE

It’s time for the National Party Government to put the money where their mouth is and commit to meaningful tax cuts following the release of Treasury’s Financial Statements of the Government of New Zealand for the five months ended 30 November 2016. The statements show $252 million more in GST revenue, and $87 million more in corporate tax revenue was collected than forecast in the 2016 Half Year Economic and Fiscal Update.

“The Government has collected $2.5 billion more than they did in the same period last year, yet tax cuts continue to be put on the back burner”, says Jordan Williams, Executive Director of the Taxpayers’ Union.

“For a political party that campaigns on low tax, this isn’t good enough. Worse still, the Government has failed to act on bracket creep, where inflation is pushing moderate salaries into higher tax brackets.”

“This half-billion pocketed by the Government should be staying in the hands of those who earned it, not straight to election year bribery.”

The Taxpayers’ Union urges the Government to follow through on its “philosophical commitment” to tax cuts, and act on fiscal reform.

ENDS

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