INDEPENDENT NEWS

Financial statements show additional scope for tax cuts

Published: Fri 4 Nov 2016 12:04 PM
MEDIA RELEASE
FINANCIAL STATEMENTS SHOW ADDITIONAL SCOPE FOR TAX CUTS
4 NOVEMBER 2016
FOR IMMEDIATE RELEASE
With Core Crown tax revenue more than half a billion dollars higher than previously forecast for the three months ended 30 September 2016, there is plenty of room to give New Zealanders tax cuts, says the Taxpayers’ Union. Reacting to the Treasury release of the Financial Statements of the Government for the period, the Taxpayers' Union’s Executive Director, Jordan Williams, says:
"For nearly a decade the National-led Government has claimed to understand the economic and social benefits of lower taxes when in reality it has allowed fiscal drag - the effect of inflation increasing the average rate of marginal tax New Zealanders pay - to increase the average tax burden.”
“With so much extra money coming in, the least Bill English could do is cut tax rates back to the level the average income earner paid when Helen Clark was in power. Not only does that increase the incentive for work, it allows those struggling to mark ends meet to keep more of what they earn."
ENDS
New Zealand Taxpayers' Union
New Zealand's grassroots campaign for lower taxes and less government waste
The New Zealand Taxpayers' Union is an independent activist group, dedicated to being the voice for Kiwi taxpayers in the corridors of power. It's here to fight government waste and make sure New Zealanders get value for money from their tax dollar. New Zealanders are invited to join and donate at http://taxpayers.org.nz
Contact New Zealand Taxpayers' Union
Website:
Twitter:
Facebook:
Media Contact:
Media line (24-hr) 04 282 0302

Next in New Zealand politics

Govt Moves On Drug Checking To Keep Young New Zealanders Safer This Summer
By: New Zealand Government
13 Parties Charged By WorkSafe New Zealand Over Whakaari/White Island Tragedy
By: WorkSafe NZ
Progress On Pay Equity For DHB Staff
By: New Zealand Government
Stuff Holds Itself Accountable For Wrongs To Māori
By: Stuff
New Zealand Government To Declare A Climate Emergency
By: New Zealand Government
Crown Accounts Reflect Govt’s Careful Economic Management
By: New Zealand Government
ACT Supports Pill Testing Bill
By: ACT New Zealand
Legal Drug Checking This Festival Season Will Help Protect Our Young People: Green Party
By: Green Party
Timely Decision On Festival Drug Checking Will Save Lives
By: NZ Drug Foundation
Whakaari / White Island Eruption 22nd Death
By: New Zealand Police
Health Minister Priorities Welcomed
By: Association of Salaried Medical Specialists
More Accessible Pay Equity Measures Come Into Force
By: New Zealand Government
Māori Language Commission Welcomes Stuff Announcement
By: Te Taura Whiri i te Reo Maori
Climate Change An Economic Issue; Critical For The Planet’s Future
By: Make Lemonade
Climate Emergency Declaration A Win But Needs Action
By: Greenpeace New Zealand
View as: DESKTOP | MOBILE © Scoop Media