12 May 2016

Taking tax cuts off the table the right move

Taking more tax cuts off the table was the right move for Bill English to make in his pre-Budget speech today, the Green Party said.

“It’s good that the Government has realised that tax cuts aren’t the kind of medicine our economy needs right now,” Green Party finance spokesperson Julie Anne Genter said.

“National’s tax cut bribes have historically benefitted people on high incomes, and come at the expense of fixing problems like child poverty and the housing crisis.

“There is still room for some tax changes, such as shifting some of the tax burden away from families and small businesses and onto big industrial polluters and housing speculators, with a carbon tax and a capital gains tax (excluding the family home).

“Bill English’s decision to prioritise paying down debt instead of cutting taxes could be seen as him scrambling to pay off debt before our economy hits the forecast slowdown.

“It’s concerning that National is still aiming to make big spending cuts over time, which will ultimately be felt in core areas like education and health.

“The Government shouldn’t be afraid to invest in ending child poverty and building the infrastructure we need to transform our economy, like housing, transport, and dealing with climate change,” said Ms Genter.

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