Bill English: Labour vacillating on fiscal stimulus

Bill English: Labour vacillating on fiscal stimulus

Hon David Cunliffe: Can the Minister deny the probability that by 1 October 2011 New Zealanders will have experienced just two tax cuts over 3 years"”$1 billion from National, skewed to the wealthy; and $2 billion from Labour, skewed to low and middle income New Zealanders? Hon BILL ENGLISH: There was a debate in election year about which tax package New Zealanders wanted, and, as I recall, that debate was settled quite decisively through the National Party winning the election by a long way. Craig Foss: What reports has the Minister seen on alternative approaches to tax cuts? Hon BILL ENGLISH: I have received a number of confusing reports about Labours position on tax cuts. A few weeks ago Labour members were advocating that the Government should do a lot more fiscal stimulation. Recently, they have called for todays tax cuts to be scrapped. This would strip over a billion dollars out of the pockets of 1.5 million workers and take the independent earner tax credit off 600,000 lower-income earners who received nothing from the Labour Government until 1 October 2008.

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