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.

National is the party of low tax, and our bottom line is tax relief for lower and middle income earners by adjusting tax brackets for inflation. This will mean someone on the average wage will keep $800 more a year.

This is how much Kiwis would save under National’s proposal to index tax brackets to inflation:

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.

In just the past five years, Labour has dreamed up a number of new taxes. National will present a fully-costed tax plan at the election, which will lay out a path to unwind the following new taxes:

• 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 Car Tax punishing anyone who needs a truck or ute.
• The Jobs Tax which targets employees and businesses to subsidise unemployment benefits.

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.
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.