Tax relief coming hints Key

Tax relief is coming as John Key hinted to mike Hosking:

The Prime Minister was also asked by Hosking about the possibility of tax cuts, after the Crown accounts for the year to June showed a surplus of $1.8 billion – higher than the $668 million forecast in the May Budget.

Finance Minister Bill English said that meant the Government was in a position to make choices such as whether to go ahead with tax cuts, but also said there were other priorities such as paying down debt.

This morning, Key said there were families that missed out on tax credits but did not earn enough to “feel that they are actually going forward fast enough”.

However, he said there didn’t seem to be a “massive cry” from the public for tax cuts, compared to 2005-07.

“But it will get louder over time as those surpluses rise.”

Socialists think increased tax revenue is a licence to spend. Fiscal conservatives think it is a sign the government has taken too much.

If John Key doesn’t think there is a massive cry for tax cuts then he’s got another thing coming.

If you don’t have children then you’ve been left behind by changes to the tax system, with in-work tax credits and Working for Families.

It is time to lower tax rates and flatten the structure even more.

Less money taken from businesses and individuals leads to more economic activity and therefore leads to increased taxation anyway through consumption taxes.


– NZ Herald