“Treasury forecasts show a government that’s looked after itself just fine, but households should be worried about what's coming," says ACT Leader David Seymour.

“While government is paying down its debt, with a record tax take of $118b next year, Treasury also forecast house prices will drop 13 per cent in 2023 and is suggesting total carnage in the private sector.

“The obvious solution is to transfer resources from the government sector, which is threatening to spend one in three dollars in the economy next year, to households and businesses which will be hurting in the recession Treasury is now forecasting

“ACT’s tax cuts would do just that, delivering a net $5.2 billion less tax to New Zealanders. Someone earning $70,000 with one child would keep $2300 more of own money to fight the private increases they’re already facing.

“The alternative is the government ploughs on consuming resources, pushing up prices while the private economy, that is businesses and households, crash down around them into a recession.”

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