Tuesday, 26 April 2022

Labour laying the groundwork for another tax grab


“If today’s speech from Revenue Minister David Parker is anything to go by, Labour is planting the seed for increased taxation to fund their addiction to spending,” says ACT Leader David Seymour.

“While vaguely announcing a Bill called the Tax Principles Act, Minister Parker tested the waters in a speech he claimed to be about “fairness”, making claims that increased taxation “isn’t a tax grab” or “the politics of envy”.

“ACT says there is nothing fair about taxing the life out of hardworking Kiwis who are already suffering from sky high inflation created by Labour’s out of control spending.

“While talking about how “unfair” our tax system is, the Minister failed to acknowledge the Government has taken in a massive $14 billion more in income tax revenue than expected due to record inflation. That Minister, is unfair.

“Introducing more legislation and regulations around our currently very simple tax system will only create more bureaucracy and have accountants licking their lips.

“It’s also proves once again that the Tax Working Group failed.

“Everything this Labour Government does is either about taxing and redistributing or dividing us against each other. There is a better way, as ACT has shown.

“We would cut the 30 percent marginal tax rate to 17.5 percent. We will reverse the 39 percent tax rate and we will reverse the Government’s interest deductibility change.

"Under our plan the average earner would get between $1286 and $2107 in their pocket a year from tax cuts.

“ACT will continue to fight for middle New Zealand, the battlers being squeezed from every direction by this Government.”