“Today the joke is on the approximately 2.8 million Kiwis who rely on working, saving, or investing to get by. The Government has forgotten about you,” says ACT Leader David Seymour.
“Today the joke is on the approximately 2.8 million Kiwis who rely on working, saving, or investing to get by. The Government has forgotten about you,” says ACT Leader David Seymour.
“Today’s tax changes mean the Government is going to give more money to beneficiaries, students, and minimum wage workers. What about the rest of the country – all the people who work for a living?
“As the cost of living crisis drives prices up people are losing more of their income to the Government. Somehow the one thing that doesn’t get you ahead in life anymore is work.
“Since Grant Robertson became Finance Minister the average worker tax rate for personal income tax has increased from 20 per cent to 22 per cent. This means the average worker is being taxed an extra $3,629 annually.
“When you incorporate GST, it gets even worse. In 2017, it was $8,083 per earner. It increased to $9,640 per earner in 2022.
“The cost of living crisis is ultimately a crisis of values. New Zealand was built on hard work but Government policy is more focussed on dividing than growing.
“The Government is making these changes because inflation is out of control. It should be getting inflation under control through a return to rational economics – cutting wasteful spending and getting the Reserve Bank focused on only prices.
“This country is grappling with so many significant challenges – a cost of living crisis, out of control crime, a truancy crisis, and a health system under immense stress.
“ACT is the only party with a fully-costed alternative budget. That budget explains how we can reduce wasteful spending without touching frontline services and deliver tax relief for hardworking Kiwis.
“We would dump the bright-line capital gains tax completely, give a $2,000 tax cut to someone on the average wage, scrap the 39 per cent envy tax, and restore interest deductibility.
“ACT is the only party working for workers. The challenges New Zealand faces can be addressed. But in order to do that there needs to be a strong economy built around creating conditions for prosperity, giving people the opportunity to get ahead.”