New Zealand’s main opposition National Party is offering tax cuts to families and middle-income voters, hoping to woo them away from the ruling Labour Party at the October election.
Among a range of measures National pledged to introduce if it wins office, the party will lift income tax thresholds to compensate for inflation and boost tax credits for families, leader Christopher Luxon said Wednesday in Wellington. An average-income household with children would be as much as NZ$250 per fortnight better off, he said.
“After years of economic mismanagement by Labour, topped off by two years of rampant inflation, huge increases in interest rates, and a shrinking economy, most Kiwis are going backwards,” Luxon said. “In particular, the squeezed middle is being left behind.” Labour argues broad changes to the tax system are unaffordable as the economic downturn strains the government’s budget. It has pledged to remove the 15% Goods and Services Tax from fruit and vegetables and to increase benefits for low-income households if it wins a third term.
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