Adjusting the tax thresholds is not a tax cut, it is an admission of reality. When you have the Reserve Bank buying $USD as a favourable policy as opposed to reducing government spending, you know you have a problem. Get real and cut taxes across the board. Dagg knows, we've earned it.
"There is quite a strong view building in New Zealand that at some stage we want to do an income tax reduction," Mr Mallard said. "I've got no doubt that it will be addressed in the next budget."
In the comments - published last week - he said he favoured changes to tax thresholds as the best way to cut personal taxes rather than dropping rates.
But Finance Minister Michael Cullen today said the comments were Mr Mallard's personal opinion.
Thursday, June 21, 2007
Two men saying they're Jesus, one of them must be wrong
Associate Finance Minister Trevor Mallard has hinted at tax cuts next budget: