INDEPENDENT NEWS

Higher Taxes Inevitable If Labour-Greens Win

Published: Sun 28 Jun 2020 05:01 PM
New Zealanders gained a glimpse today of what a Labour Greens government would look like, and it involves a lot more taxes, National’s Finance spokesperson, Paul Goldsmith, said today.
The Greens have proposed higher income tax rates, up to 42 cents in the dollar, and a wealth tax on people with more than $1 million in assets.
The wealth tax would be particularly severe. A successful small business person, owning a $1 million house and a business worth $1 million would have to pay $40,000 a year for the 2 per cent wealth tax.
At a time when we need our successful small business people to invest and create more jobs, the Greens want to tax them more.
Rather than celebrating Kiwis doing well, the Greens seem to want to punish them.
The Greens never have the influence to get their way entirely, but they would push a Labour Greens coalition in the direction of higher taxes.
Labour have so far refused to rule out taxing people more if they win the election.
The very real fear many New Zealanders have is that this current government, which has $20 billion available for election spending, will spend whatever it takes to try to keep its poll numbers up until the 19 September election.
Then on the 20th, if they win, the smiles will drop and New Zealanders will be presented with the bill – higher taxes.
National has committed to no new taxes for Kiwis in our first term.
While the economy is going down, the Greens want to tax us more, and Labour haven’t ruled out doing the same.

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