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Weakening economic growth shows need for tax cuts


19 SEPTEMBER 2019

With economic growth softening, the Government needs to let taxpayers keep more of what they earn, says the New Zealand Taxpayers’ Union.

Taxpayers’ Union spokesman Louis Houlbrooke says “The Government’s current approach of more taxes, spending, and regulation has failed. Annual economic growth has fallen from 3.9 percent in 2016 to 2.1 percent today and with heightened international uncertainty on the horizon, it could fall even further.”

“There needs to be a renewed focus on the fundamentals. A good start would be delivering tax relief to workers and businesses, leaving everyone with more left in their wallet to spend and invest. Lower taxes would also make investment more attractive, which would help to lift incomes and put some more steam into the economy.”

ENDS

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