The Herald reports:
The Government has promised not to hike ACC levies for businesses and motorists until at least 2022, in a bid to cushion the Covid-19 blow for New Zealanders.
ACC Minister Iain Lees-Galloway said this was a “prudent decision,” given the uncertain nature of New Zealand’s economic outlook.
“It provides some certainty to businesses and other levy payers and gives ACC more time to reliably assess the impact of Covid-19 on its finances.”
Work and earners’ levies will remain at the current levels until March 31, 2022; motor vehicle levies won’t be adjusted until June 30 the same year.
This is a very good decision. It is madness to increase taxes and compulsory levies during a recession. This is why rates and petrol tax shouldn’t increase either.
On the other hand we have the Greens proposing the largest tax hikes in history, during a recession.