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Cullen Sitting On Tax Cut - Plus Change

Posted on 10 Oct 2007

The Government's announcement of an $8.7 billion operating surplus adds further fuel to speculation over whether or not Finance Minister Dr Michael Cullen will use tax cuts to bribe Kiwi voters in the run up to next year's General Election, ACT New Zealand Deputy Leader Heather Roy said today.

"Further, Dr Cullen was unaware when asked in Parliament today that his $8.7 billion operating surplus is broadly equivalent to an across-the-board tax rate of 20 percent - keeping the rate for low income earners at 15 percent," Mrs Roy said.

"The Minister and his Government have recently been under fire for breaking their promise to have just the top five percent of income earners paying the 39 percent top rate of tax, and for not adjusting the threshold for the 33 percent rate to accommodate an increase in the average wage.

"Hard-working Kiwis deserve meaningful tax cuts, rather than having to struggle along while Dr Cullen jealously guards his huge surpluses like Ebenezer Scrooge," Mrs Roy said.

ENDS

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