Government Taxes Bite As Cost Of Living Rises

Published: Fri 16 Jul 2021 11:09 AM
“It’s no wonder the very areas the Government has piled taxes on are driving the largest increase to inflation in 10 years,” says ACT’s Associate Finance spokesperson Damien Smith.
"Housing costs are up, so are housing taxes. Petrol costs are up, so are petrol taxes. Rents are up, so are rental regulations.
“Inflation this high was the inevitable result of printing money as a cushion through COVID. Kiwis are now literally paying the price.
“The Reserve Bank's money printing has created enormous inequity, with asset prices being inflated for those already wealthy, while prices rise for those trying to get ahead.
“The Government needs to stop messing with the economy, New Zealand now needs sensible economic management. The days of easy money printing are over.
“It should ditch its avalanche of damaging regulations such as those on farmers, the Zero Carbon Act, and so-called Fair Pay agreements. Instead, it should be asking how to create the conditions for prosperity.
“The Government should be trying to make life easier for New Zealander's but under its watch, the cost of living seen a record increase.
“It all adds up and middle New Zealand is taking a hammering.
“Everything this Labour Government does is either about taxing and redistributing or dividing us against each other. There is a better way, as ACT has shown with our alternative budget.
“We would cut the 30 percent marginal tax rate to 17.5 percent. We will reverse the 39 percent tax rate and we will reverse the Government’s interest deductibility change.
"Under our plan the average earner would get between $1286 and $2107 in their pocket a year from tax cuts.
“ACT will continue to fight for middle New Zealand, the battlers being squeezed from every direction by this Government.”

Next in New Zealand politics

Next Steps To Improve Safety In Wake Of Whakaari White Island Tragedy
By: New Zealand Government
Expert Group Appointed To Lead New Zealand’s Future Health System
By: New Zealand Government
Kiwis Overseas Must Be Allowed To Vote Next Year
By: Green Party
Power bill changes bring fairness to charges
By: New Zealand Government
Govt parks the expiry of licenses, WoFs and regos
By: New Zealand Government
Highest jump in weekly benefit numbers since first lockdown
By: Child Poverty Action Group
Bay Of Plenty District Health Board Chair Sharon Shea Appointed Co-Chair Of The Māori Health Authority
By: Bay of Plenty District Health Board
Senior Doctors Call For Strong Clinical Voice To Lead Health Reforms
By: Association of Salaried Medical Specialists
NZMA Welcomes Health System Board Appointments
View as: DESKTOP | MOBILE © Scoop Media