Labour needs to come clean on tax

With less than six weeks before the election, it’s past time that Labour reveals its tax plans to New Zealanders, National’s Finance spokesperson Paul Goldsmith says.

“National’s tax plan is clear – no new taxes.

“The Greens are clear – they want much more tax, including a punitive wealth tax.

“But Labour seem to think they can get away with not talking about it.

“Grant Robertson said last weekend they’d be coming out with their tax plan in a week or so. The Labour Leader again said this morning ‘it’s coming’. When?

“This is a Government that inherited multi-billion dollar surpluses and burned through them in two years to project a deficit before Covid struck.

“A Government that can’t control its spending will always come after more tax.

“They failed on the Capital Gains Tax. They will want more tax and they need to be straight with New Zealanders now.

“The last thing New Zealand needs right now is higher taxes, but that’s what Labour will deliver.

“Since Covid, the Government has been borrowing money at the rate of about $1.3 billion a week since March, working on Treasury’s estimate we will reach debt of 39 per cent of GDP by the end of the year.

“Labour needs to be straight with New Zealanders about how they intend to get on top of this debt and what their tax plans are.”