National leader Christopher Luxon says abandoning plans to scrap the 39% tax rate in National’s first term was the sensible response to this week’s “incredibly alarming” economic forecast.
Talking to Q&A’s Jack Tame, Luxon said that while National believes it can follow through on its other tax policy commitments, on the top tax rate, “the bottom line is we will not be able to afford to do that in our first term”.
National leader Chris Luxon confirmed to Q+A the party has changed course on their top tax rate policy – the 39c rate will not be changed in their first term if National wins in 2023 pic.twitter.com/dmJ0bpgQAq
— Q+A (@NZQandA) November 26, 2022
National’s tax cut pledge was initially made in early March and inflation has continued to soar since then. Today Luxon denied that waiting so long to announce the change had damaged National’s ability to brand itself the party of fiscal responsibility.
Said Luxon: “If I was a CEO of a company where you have a shock event and if I carried on business as usual that wouldn’t be acceptable to customers. And Grant Robertson frankly, should have been making adjustments for the course of the year.
“And so I appreciate the political opponents want to call it a U turn. But the harsh reality is this is about being a good economic manager.’
Credit: Source link
For more News go to ovanewsblast.com
