The Herald reports:
Next month’s Budget will not contain plans for tax cuts, Prime Minister John Key said today.
“There will be no personal tax reform in the Budget,” Mr Key told reporters in Wellington afterwards.
Asked if that included tax cuts, he said, yes.
Now the books are back in surplus. hard working Kiwis should get to keep more of their income. Through bracket creep, most Kiwis are paying more in tax now than previously.
Once the books are in surplus, the Government should allocate the surplus to both increased spending and tax cuts. It shouldn’t be one or the other but both.
It’s very disappointing that we’ve had to wait so long for tax cuts.