With unemployment expected to remain elevated for longer and economic growth forecast to be weaker than previously
expected, economic malaise may persist for years unless we take drastic action, says the New Zealand Taxpayers’ Union.
Taxpayers’ Union Executive Director Jordan Williams says, “With a weaker-than-expected global economic recovery on the cards according
to Treasury, New Zealand taxpayers face a weak local recovery with unemployment remaining elevated for years. While we
can’t change what happens overseas, we can and should change our policy settings at home to accelerate our economic
recovery.”
“Proposals by Labour and the Greens to hike taxes on high income earners and the wealthy should be abandoned. Higher
taxes will simply put a handbrake on investment and entrepreneurship. Instead of leaving taxpayers to spend their money
in their communities and businesses, it will be wasted on white elephant projects like KiwiBuild and light rail with
very few economic benefits.”
“Instead, political parties of all stripes should commit to eliminating wasteful spending and providing modest tax
relief to households and businesses. That tax relief would drive entrepreneurship and investment and help to bring
unemployment down lower and faster. If we continue the current approach of a high-tax, high-spend economy we will all be
poorer for it.”