In recent times Goldman Sax has warned National that its policies will hurt the economy. And S&P has praised Labour’s handling of the economy and expressed a high assessment of various factors relating to the country.
Earlier this year Andrew Marr wrote in the New Statesmen, that Britain’s problem was that it wanted Scandinavian levels of Public Services and North American levels of taxation. His view was that Britain was overdue for an honest debate about tax and public spending. In New Zealand, there is a similar challenge.
Nicola Willis has essentially confirmed that the design of National’s foreign purchase of land tax was and remains sufficient to be done on the back of an envelope.
A year ago this month, the Liz Truss/Kwasi Kwarteng mini-budget destroyed once and for all the myth that the Tories are better at managing the economy. The New Zealand National Party could not even wait until they were in government to prove the same applies to them.
Despite repeated analysis that its policies do not add up National is refusing to release the costings behind its policies.
Independent economists have calculated that there is a half a billion dollar hole in National’s foreigner land purchase tax policy.
When the history of the 2023 New Zealand Aotearoa general election is written and if Labour gets up to win historians will point to the events of this week as the turning point in what has already been a dramatic year in politics. Because I cannot believe how bad National’s tax cut policy release has been researched and structured and how bad its release is going.
National’s announcement of four new taxes to fund tax cuts rely on herculean assumptions that will never be met. And their proposal for climate change will undermine the slow but steady progress the country has been making to meeting its emission reduction goals.
As predicted Labour has announced a policy of taking GST off fresh fruit and vegetables and a significant adjustment to Working for Families In House Tax Credit levels and the Thresholds.
We need to recognise our risk to the capital flight risk of the 1%, but also recognise the benefit to the 99% of us.
National’s Nicola Willis has claimed that Labour will soon announce policy to take GST off fresh fruit and vegetables.
Act has declared its class prejudice by advocating for the cancellation of the free lunch in schools programme even though the benefits are clear and recognised and the programme helps poor kids’ nutrition and education.
Chris Hipkins today stated that for any future Government he leads after the next election there will be no wealth or capital gains tax implemented. End of story.
According to National holding a modest shareholding can open a Minister to allegations of conflict of interest but owning seven investment properties and proposing beneficial tax treatment of landlords does not.
Last night I watched Christopher Luxon in a interview with Jack Tame on Q&A from youtube. My takeaway from it was that I don’t want this fool anywhere near actual policy. He exhibited a blissful ignorance about downstream effects of genetic engineering, climate change, and productivity in our economy. Even where I agreed with him like on GE – I didn’t want this idiot implementing policy on it.
The Green Party has today announced an income guarantee and a wealth tax.
The pros & cons of tax cuts vs. universalism suggest that universalism might be universally better for New Zealand.
National’s latest policy brainstorm is to print out and mail to every taxpayer information they could obtain by using Google and MyIRD.
With the release by David Parker of a report showing that the wealthiest New Zealanders pay tax at much less than half the rate of other Kiwis is it time to again debate the virtue of a comprehensive Capital Gains Tax.
Is it just me or is Mike Hosking becoming more unbalanced? The recent misrepresentation of a speech from Deborah Russell would suggest that he is getting worse.
The case for redistribution of wealth in New Zealand.
National’s proposed child care subsidy policy is essentially an increase to existing grants that will fuel inflation and costs increases in the child care sector.
To pay for recent flood damage Grant Robertson has to decide on what proportion of this will be paid by new debt, what proportion by reallocation of expenditure, and what proportion by special tax levies. Is an Australian style levy under consideration?
Instead of creating an appeal fund and one-off lotto draw, the Labour Government could tax the billions of dollars banks have made in unearned, excess profits and use the money to support people.
The repair bill for the recent cyclones will be similar to the direct cost to government of the Canterbury earthquakes, in the $13 billion region. Banks are currently making obscene profits. The time is right to impose a one-off banking windfall tax. If a conservative Margaret Thatcher can do it, it is pretty hard to argue why a Labour government can’t.
Mega property owning entrepreneur Graeme Fowler thinks we can all be rich if we just changed our attitude.
One of the mysteries of the ages has now been resolved. One of the great mysteries along with who killed JFK and is there life on Mars is how wealthy is the orange one. And now we know. And it appears that he is not as wealthy as he made out to be.
National’s recent press releases show that its approach to politics will be relentlessly negative, with no idea of what it will do as an alternative or how it will fund changes.
“An excess profit tax would be a simple and effective way for large corporations to pay their fair share, unlocking the resources all of us need to live with dignity, put a roof over our heads and food on the table,” says Green Party Finance spokesperson, Julie Anne Genter.
“Today, we have released a discussion document exploring how an excess profit tax could be designed – and how the additional revenue should be spent. We are also considering the alternative of raising company tax rates so that all profits are taxed more.”
National’s attack on requiring banks to charge GST on the provision of Kiwisaver services the same as smaller services is deeply cynical when its attacks on Kiwisaver in the past are considered.
National’s media spin team is at it again claiming that removing interest rate deductibility for landlords is a “tenant tax” when it is neither a new tax nor for tenants.
Chris Bishop has accused Labour of engaging in dirty politics for pointing out that this week National has changed its policy on income tax indexation twice.
In 21 tweets Clint Smith has set out why National’s tax cut policies and its rhetoric are absurd and how the media is doing us a disservice by not asking the hard questions like what will be cut and how the promised tax cuts will be paid for.
Act has publicly released its proposal to decimate the state should it have a say in the next Government. Its Real Change Alternative Budget may be wet dream inducing for Ayn Rand acolytes but for the rest of us the proposals should instill a deep sense of dread.
The tide of this government is running out. There’s 18 months left in the term. What would you save?
Is Revenue Minister David Parker’s plan to gather tax data on the wealthy just more procrastination by this Labour government on making the tax system fairer? Or is it recognition the public debate needs a long-term frame to get a capital gains, or wealth tax, over the line?
