13 DECEMBER 2018
With the Government’s OBEGAL annual surplus expected to grow to $8.4 billion by 2023, the Government should campiagn on
tax cuts at the 2020 election not a capital gains tax, says the New Zealand Taxpayers’ Union in response to the Half
Year Economic and Fiscal Update.
Taxpayers’ Union Economist Joe Ascroft says “Surpluses are expected to slowly grow in coming years and based on current
forecasts the Government will meet its commitment to reduce debt to less than 20% of GDP by 2022. There’s plenty of room
for income tax cuts for New Zealanders.”
“By the time of the next election it will have been a decade since New Zealanders received an income tax cut. Instead of
campaigning on a capital gains tax and squeezing taxpayers more, the Government should commit to tax cuts.”
ENDS