INDEPENDENT NEWS

Tax and regulations driving up the cost of living

Published: Tue 16 Jul 2019 02:18 PM
Paul Goldsmith - Finance
16 July 2019
Today’s inflation figures reveal the Government’s higher taxes and poorly thought through regulations are the main driver of the rising cost of living for New Zealand families, National’s Finance Spokesperson Paul Goldsmith.
“Rising rents and the increasing cost of petrol were large contributors to the 1.7 per cent increase in the cost of living in the last year. Rents increased by 2.5 per cent and petrol by 3.3 per cent in the last year.
“The Government must take responsibility for the role it has played in driving up the cost of living. Since coming into office, the Government has imposed and threatened more costly regulations on landlords, threatened a Capital Gains Tax, extended the bright-line test and ring-fenced losses on rental properties. All of these have contributed to a $50 per week increase in New Zealand’s median rent since the Government came to office.
“The Government has also imposed an 11.5 cent Regional Fuel Tax in Auckland and legislated 12 cents of petrol tax excise increases across New Zealand. Despite higher taxes, the Government has cancelled or delayed a dozen major roading projects and prioritised a slow tram in Auckland.
“Quite simply, New Zealanders are paying higher taxes for fewer roads.
“Keeping the cost of living low and affordable is just as important as growing incomes. When the cost of living grows faster than incomes, Kiwis are going backwards.
“National is absolutely focussed on reducing the cost of living for New Zealanders. A good place to start is lower taxes, less regulation and more competition.”
ends

Next in New Zealand politics

More people getting into work
By: New Zealand Government
Boost in Whānau Ora funding to keep changing lives
By: New Zealand Government
Kaikōura $10.88 million boost in tourism & business
By: New Zealand Government
Plans to protect the future of whitebaiting announced
By: New Zealand Government
New resource for schools on climate change
By: New Zealand Government
Regulations pave way for quality medicinal cannabis
By: New Zealand Government
Gordon Campbell on a White Island inquiry
By: Gordon Campbell
7000 more young people on the dole under Labour
By: New Zealand National Party
Government failing to get Kiwis back into work
By: New Zealand National Party
Labour's soft line on welfare sees 25,000 more on benefit
By: ACT New Zealand
Benefit numbers continue upward trend
By: Lindsay Mitchell
Dunne Speaks: Turia is Right on Whanau Ora
By: Peter Dunne
Whānau Ora claim must be fast tracked, says Māori Party
By: The Maori Party
$10.98 million of PGF funding announced
By: Kaikoura District Council
Proposed whitebait rules are pitiful, won’t save native fish
By: Forest And Bird
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media