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Inflation shows desperate need for tax bracket adjustment - NZTU

Contributor:
Fuseworks Media
Fuseworks Media

Responding to the revelation of 4.9% inflation for the last year, Taxpayers’ Union spokesman Jordan Williams says:

"Skyrocketing prices are an indictment on the Government’s print, borrow, and spend economic strategy. In general, Government spending is more inflationary than leaving money in taxpayers’ pockets, and Grant Robertson needs to shoulder some of the blame for today’s numbers."

"The need to adjust income tax brackets has now become desperate. Inflation pushes our wages up into higher tax brackets even when we’re no better off in real terms. Grant Robertson might be pleased to get his hands on all this inflation-driven tax revenue, but during a pandemic this tax grab is unconscionable."

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