Government tax levies continue to rise

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The government’s updated financial statements confirm a trend in tax revenue ahead of forecasts and underscore the need for the government to provide tax relief to New Zealanders, National’s finance spokeswoman Nicola Willis said.

“Today’s financial statements underscore a picture of rising revenue flowing out of the pockets of New Zealanders into Crown accounts.

“This should be a wake-up call for the finance minister who, faced with choices about what to do with an acceleration in tax levies, chooses to make record spending with plans for the biggest operating allocation in the history of New Zealand at $6 billion.

“Government coffers are swelling with the ill-gotten gains of inflation, as more and more taxpayers are pushed into higher tax brackets.

“This year, Labor is expected to collect $12.5 billion more of Kiwis’ money in income taxes than when they came to power, while the middle class pays higher prices for food. , rent and gasoline, with costs rising faster than their salaries.

“National once again urges the Minister to prioritize tax cuts for Kiwis facing the cost of living crisis.

“Our tax package would inject $1,600 into the average household budget, which at a cost of $1.7 billion would be less than a third of what Labor plans to add to its spending This year.

“It’s time Labor gave the Kiwis back more of their own money.”

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