9 MAY 2019
FOR IMMEDIATE RELEASE
The premature celebration of 'Tax Freedom Day' by Baker Tilly Staples Rodway is just festive silliness says the New Zealand Taxpayers’ Union.
Reacting to coverage of 'Tax Freedom Day' Taxpayers’ Union Economist, Joe Ascroft says, “Staples Rodway’s calculations ignore the cost of debt-funded Government spending and revenue gathering that falls outside the tax system. Tax Freedom Day is in a few weeks' time: on Saturday 1 June.”
“OECD figures show that general government total outlays are equivalent to 41.573% of the economy. The implication is that until June 1, taxpayers are working for the Government – whether the Government is spending from their paycheque, or simply handing them a credit card already loaded up with debt.”