The New Zealand Taxpayers’ Union is calling on the Government to urgently cut fuel excise in response to the escalating threat of invasion of Ukraine.

Union spokesman Louis Houlbrooke says, “Experts have warned that the flow-on effects of war and sanctions in a major energy export region could see the local price of 91 spike to over $3 a litre.”

“High petrol prices have already hammered New Zealanders hard enough, with costs filtering through to more expensive household goods.”

“In a time of crisis, we deserve leadership from the Government. While Jacinda Ardern can’t do much to stop Putin from rolling over Ukraine’s borders, she can shield New Zealanders from the economic impact by pulling back the excise tax lever.”

Taxes and levies currently make up 48% of the price of petrol in New Zealand, or 52% in Auckland, based on a price of $2.767/litre. Seventy cents of the price is excise tax, which has GST charged on top, meaning cuts in excise tax could reduce prices by up to 80 cents/litre.

© Scoop Media