“Labour is eagerly searching for new taxes to fuel its addiction to spending taxpayers’ money”, says ACT Leader David Seymour.
“This morning on AM, Jacinda Ardern claimed that parts of the tax system were unfair and refused to rule out campaigning on new taxes next year.
“Last week, Revenue Minister David Parker announced a Tax Principles Act, planting the seed for higher taxes.
“Parker failed to acknowledge the Government has taken in a massive $14 billion more in income tax revenue than expected due to record inflation.
“He failed to mention that just 9 per cent of income earners pay 42 per cent of all income tax.
“If Labour wants a fairer tax system, they should start there, rather than dreaming up new ways to tax Kiwis.
“Everything this Labour Government does is either about taxing and redistributing or dividing us against each other. There is a better way, as ACT has shown.
“ACT would cut the 30 per cent marginal tax rate to 17.5 per cent, reverse the 39 percent tax rate, repeal the Government’s interest deductibility change, and get rid of the bright-line test completely.
"Under our plan, the average earner would get an extra $2,000 in their pocket each year.
“ACT will continue to fight for overtaxed New Zealanders.”