The Guardian reports:
In an attempt to step up the pressure on Labour leader Ed Miliband on tax, the prime minister will say the new law will help voters to choose between the Tories, who say they have cut income tax for 26m people, and Labour, which, he claims, taxed people “to the hilt”.
A five-year “tax lock”, to be included in new legislation, would guarantee no increases in income tax rates; no increases in VAT, nor an extension of its scope; and no increase in national insurance, nor an increase in its ceiling above the higher rate threshold.
I like this.
We should do this here – pass a law that guarantees no increase is tax rates, GST or ACC levies for five years. That would force Labour, Greens and NZ First to vote for or against it. Yes a future Government could repeal it, but considering NZ should be in surplus, it would be politically more difficult for them to do so.