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This week, working New Zealanders mourn tax cuts

This week, working New Zealanders mourn tax cuts

3 APRIL 2018

This week taxpayers mourn the tax cuts the last Government never delivered while the new Government boosts handouts instead, says the New Zealand Taxpayers’ Union.

“This is the week tax cuts introduced in Budget 2017 would have come into effect,” says Taxpayers’ Union Spokesman Louis Houlbrooke.

“Instead of letting working New Zealanders keep the money they’ve earned, politicians have chosen to throw this money at select groups like students and superannuitants through boosted allowances and an untargeted ‘winter energy payment’.”

“It’s as though the New Zealanders doing the most to keep the Government afloat are held in its lowest esteem.”

“The Government isn’t just refusing to cut taxes, it’s actually taking more of our money. Thanks to National’s failure to index tax brackets to inflation, the Labour-New Zealand First Government will reap hundreds of millons in extra revenue as inflation has pushed taxpayers into higher tax brackets.”

More information about the impact of fiscal drag (also termed ‘bracket-creep’) is available in the report 5 Options For Tax Relief In 2017, available at www.taxpayers.org.nz/5_options.

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