PREFU reaction: The time for tax cuts is now!
23 AUGUST 2017
The Pre-election Economic and Fiscal Update (PREFU) released by the Treasury show the need for tax cuts this election says the Taxpayers’ Union.
Responding to the opening of the books, Jordan Williams, Executive Director of the Taxpayers’ Union, said:
“These books show New Zealanders are over taxed. The excess money is being sucked in because tax threshold rates haven’t changed with inflation and average income growth. Even National’s tax cuts announced in the Budget don’t make up the difference, and even Kiwis on modest wages have been pushed into higher tax brackets."
“We’ve modelled five meaningful ways the Government could deliver tax relief for less than $3 billion, with each targeting different groups. Given today’s PREFU, those options look even more prudent.”
5 Options For Tax Relief In 2017 is available at www.taxpayers.org.nz/5_options