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Punishing Businesses Won’t Lift Kiwis Out Of Cost-of-living Crisis
Responding to comments from Nicola Willis that scrapping commercial depreciation is being used to raise funds for personal income tax relief, Taxpayers’ Union Policy and Public Affairs Manager, James Ross, said:
“Hardworking Kiwis need income tax relief, but that’s only half the equation. Driving up the cost of doing business in New Zealand through short-term thinking like this will leave the country poorer in the long run.
“Given we have one of the highest corporate tax rates in the developed world, Kiwis wanting to see real wage growth need their Government to be doing everything it can to attract investment, not going out of their way to scare it away.
“Public spending has increased 84% in just six years, while outcomes in health, education, and law and order have been plummeting. Whipping the public sector into shape is where Nicola Willis needs to be finding the savings for tax relief.”
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