Excise tweaks don’t fix wider cost of living crisis

The Government’s petrol tax tweaks will provide some relief but don’t address the wider cost of living crisis that Kiwis across the country are facing, Opposition Leader Christopher Luxon says.

“It’s good that the Government has finally accepted there is a cost of living crisis in New Zealand. But now they need to address it.

“It’s not just petrol prices that are going up. Food prices are up more than 13 per cent and weekly rent is up $150.

“And rampant inflation means Kiwis are paying more income tax, despite going backwards under Labour.

“People deserve a break. The best way to do that is to adjust tax thresholds to return the extra tax Labour are grabbing through inflation. This would see the average earner keep an extra $870 a year.

“Until now, all Labour has done since they came into office is increase taxes. There’s the regional fuel tax, the brightline extension, the removal of interest deductibility on rentals, the new 39 per cent income tax rate, the proposed light rail tax and the latest jobs tax proposal.

“National would allow hard working Kiwis to keep more of what they earn.”

You can read more on National's Income Tax Inflation Reset Policy here.