Delivering tax relief
More taxes and more spending leave everyone worse off. Unlike Labour, National believes Kiwis should keep more of what they earn.
Labour’s only approach to the economy has been to spend, spend, spend. And instead of finding savings or eliminating waste, Kiwis are being hit by a never-ending tide of new taxes.
And with inflation running rampant, everyone is being pulled into higher tax brackets, despite not being any better off. Kiwis are running faster only to keep falling further behind.
Unlike Labour, National trusts Kiwis to spend their own money better than the Government. That’s why we believe everyone should keep more of what they earn.
In just the past five years, Labour has dreamed up seven new taxes – and National will reverse them all:
- The Regional Fuel Tax in Auckland.
- A Light Rail Tax for Aucklanders.
- The 10-year bright-line test extension.
- The Tenant Tax removing interest deductibility on rental properties.
- The new 39 per cent top income tax rate.
- The Car Tax punishing anyone who needs a truck or ute.
- The Jobs Tax which targets employees and businesses to subsidise unemployment benefits.
National will present a fully-costed tax plan at the election. As part of this, we are committed to delivering New Zealanders a reduction in income taxes, including indexing tax thresholds for inflation.
Details of the plan we proposed earlier this year can be found here. This is what we will deliver at a minimum. We will take into account the economic and fiscal conditions at the election and if we can go even further in providing Kiwis with tax relief, we will.