Labour’s higher taxes will do nothing to help create jobs but it will stifle investment, National’s Finance spokesperson Paul Goldsmith says.

“Finance Minister Grant Robertson needs to explain how higher taxes will create the jobs we need.

“The last thing the economy needs in the middle of a recession is higher taxes.

“Our economy is shrinking, Kiwis are losing their jobs every day and families are struggling to make ends meet.

“Right now we need to be encouraging investment and growth in our economy. National’s tax plan will increase investment and support businesses to create more jobs.

“We will keep taxes low and our plan features an instant write off of new investments up to $150,000.

“Labour’s latest tax increase is only the beginning. Labour Party affiliated Union members are calling for higher taxes and we know that eventually Labour will come after middle income earners too.

“National has been very clear with New Zealanders, we won’t be introducing any new taxes, and we won’t be increasing taxes.”