7 AUGUST 2019
Today’s surprise 50-basis points cut and Reserve Bank Governor Adrian Orr’s comment that monetary policy “needs friends”
forces the Government to seriously consider tax relief, says the Taxpayers’ Union.
Spokesman Jordan Williams says “The Government needs to respond to the Reserve Bank’s economic warning by reducing the
tax burden on the economy.”
In answering questions from the media, Mr Orr said that his monetary police ‘needs friends’. “That’s about as direct
instruction you can get for a Government to cut taxes,” says Mr Williams.
“The risk is that Ministers instead use this warning as an opportunity to turn on the taps of poorly targeted, wasteful
spending. Presumably that’s what Mr Orr meant when he mentioned the quality of spending. It is so much better to leave
it to Kiwis to spend their own money, than waste it on big dumb government spending.”
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