Source: Taxpayers Union
Taxpayers’ Union unveils five policies to encourage growth and conquer debt
FOR IMMEDIATE RELEASE18 SEPTEMBER 2020
Responding to the tax cuts in the National Party’s alternative budget, New Zealand Taxpayers’ Union spokesman Jordan Williams says: “These income tax cuts are big and bold. It’s a welcome and appropriate response to what is likely to be the worst economic crisis of a lifetime.” “National have cottoned on to the fact that some pretty radical tax cuts become affordable when implemented on a temporary basis. When we’re in a recession, it makes sense to front-load tax relief so that the benefits arrive when we need them most.” “A temporary income tax cut will put more money in Kiwis’ pockets to spend and invest, That is precisely what is needed right now.” “A loss of government revenue in the short term is justified when it translates to economic growth – growing the economy is crucial to reducing the relative size of the Debt Monster in a decade or so.” “There are two ways the Government can stimulate the economy. The Government can allocate our money based on backroom decisions – think James Shaw and his Green School – or we can let Kiwis spend and invest for themselves by reducing taxes. Australia, the UK, and many of of our trading partners are choosing the latter. The National Party is now ensuring that Kiwis too have that choice.”The Taxpayers’ Union continues to push for other temporary forms of economic relief, such as a 12 month GST cut and a one-off 15 month trial period for new employees. These ideas and more were outlined in a paper released this morning.