INDEPENDENT NEWS

Ignore the OECD – New Zealanders are overtaxed

Published: Tue 18 Apr 2017 02:04 PM
Ignore the OECD – New Zealanders are overtaxed
New Zealand needs to do better than compete with OECD countries on tax rates, says ACT Leader David Seymour.
“The OECD’s recent report actually shows the average New Zealand worker’s tax rate has gone from 15.9% to 17.9% since 2011. ACT says we should be taxing people less, not more.
“We need to do better than beat the likes of France, Belgium, and Greece. These economies are stagnant at best, economic basket-cases at worst.
“We have to start competing with high-growth economies like Singapore, Hong Kong, and Panama. These countries offer productive workers low income tax rates of 25% or less.
“Meanwhile in New Zealand, we slap a 30% tax rate on anyone earning over $48,000, and a 33% rate on anyone over $70,000.
“Lower taxes will unleash higher growth and productivity. This will be key to addressing our growing challenges of infrastructure and superannuation costs.
“A stronger ACT will secure tax relief for New Zealand workers after this election, not as a bribe, but because it’s the right thing to do. ACT’s tax policy will be unveiled as we approach Budget 2017.”
ENDS

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