Jump in unemployment shows need for tax relief

6 NOVEMBER 2019
FOR IMMEDIATE RELEASE

A jump in unemployment from 3.9% to 4.2% demonstrates continuing economic weakness, says the New Zealand Taxpayers’ Union.

Taxpayers’ Union spokesman Louis Houlbrooke says, “With interest rates already so close to zero and the economy weakening, the Government should signal tax relief to take effect in next year’s Budget. Letting employers and workers keep more of what they earn would put some heat back into the economy – ensuring unemployment does not climb too high too fast.”

“While some commentators have called for greater infrastructure spending, tax cuts would heat the economy up much faster. Infrastructure needs extensive planning and consultation, whereas tax cuts could take effect almost immediately.”

ENDS

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