Yet more taxes on the way
Paul Goldsmith - Economic and Regional Development
30 October 2018
The Government is refusing to rule out more taxes, despite forecasts that its revenue grab will rise almost twice as fast as wages in the next two years, National’s Economic and Regional Development spokesperson Paul Goldsmith says.
“Not only has this Government refused to ease the tax burden on record-high fuel prices but it has left New Zealanders in a state of uncertainty over its tax ambitions, including a Capital Gains Tax.
“It isn’t even prepared to commit to a revenue neutral tax package when it gets the final report of the Tax Working Group. That’s a worry from a Government with a track record of wasteful spending and which has played a role in driving up living costs for ordinary Kiwis.
“The Government reaped $80 billion in taxes in the 2018 year and Treasury forecasts that to rise to $89 billion in 2020, an increase of 11 per cent. In that same period, wages are forecast to rise 6 per cent.
“New Zealanders are rightfully angry at being whacked in the wallet when they fill up their vehicle, especially since more than half the price is taxes.
“They would’ve been better off under the last National Government’s tax cuts, which added up to $1,060 for the average worker. But this Government held on to the money for wasteful schemes like fees-free tertiary education.
“National believes New Zealanders should be able to keep more of what they earn and Government spending should be subject to rigorous scrutiny. National supports policies that drive economic growth and benefit all our communities.