“As New Zealanders continue to be squeezed from every direction, Jacinda has this morning shown she has no plan to ease the pressure they face,” says ACT Leader David Seymour.
“On Newshub Nation this morning the Prime Minister blamed global factors for the highest inflation we’ve seen in three decades and refused to consider changes to tax rates.
“Despite taking in $1.5 billion more in taxes than Treasury had forecast, she said “At this stage we’re not in a position to be making adjustments to tax rates”
“Kiwis are facing a cost of living crisis and the Prime Minister needs to take responsibility. Labour’s Covid-19 response has been running on a sugar hit of cheap credit and borrowed money.
“That money is now sloshing around the economy and pushing up the price of everything. On top of that, Kiwis paying are huge amounts in tax. The Government was warned by Treasury its spending would push up prices.
“Doing the groceries, filling up the car and paying the rent is more expensive because of Labour’s out of control borrowing and spending – but wages aren’t keeping up. Workers are going backwards under Labour.
“Jacinda blamed everything but her own policies and the only solutions she had was increasing increasing welfare and the minimum wage”
“The only adequate response is a return to rational economics.”
ACT would:
• Get borrowing and wasteful spending under control
• Change the Reserve Bank legislation back to focusing on inflation only
• Provide tax relief, cutting the 30 per cent tax rate to 17.5 per cent, giving the average worker an extra $2,000
• Stop hitting businesses and productive people with new rules and taxes
• Immediately allow all negative tested travellers into the country – New Zealanders, workers, students and tourists.
Read our full plan here