New Zealanders can now test whether Labour’s spending promises add up with a new interactive website launched by National’s Campaign Chair Simeon Brown.
“Labour has at least $18 billion of spending plans that it needs to find the money for, either through more taxes or more borrowing – or both,” Simeon Brown says.
“It has just announced a $5 billion business tax, despite Labour Leader Chris Hipkins saying a capital gains tax would be Labour’s only new tax.
“Labour is scrapping Investment Boost, meaning it will hike taxes by 20 per cent on business owners wanting to buy the machinery and equipment needed to grow their business.
“But Labour’s $5 billion business tax still leaves a huge shortfall against its $18 billion of spending promises.
“That means Labour either has more taxes it hasn’t revealed yet, or it is preparing to adopt the taxes proposed by its coalition partners in the Greens, Te Pāti Māori and The Opportunities Party.
“Between them, the four parties have proposed nine taxes so far.
“New Zealand is three months away from the election, and Labour still won’t say how many other new taxes it will hit households and businesses with.
“In the absence of that detail from Labour, National’s new website allows New Zealanders to try make Labour’s promises add up using the nine new taxes on the table under a Labour-Greens-Te Pāti Māori-TOP coalition.”
New Zealanders can try the interactive website at 18billion.co.nz