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OECD could not be clearer
OECD could not be clearer
Finance Minister Michael Cullen has welcomed the latest OECD Economic Outlook on the New Zealand economy saying it brought a “refreshing dose of reality” into the tax debate.
“The OECD could not be clearer. Any additional fiscal stimulus beyond that already planned could put the projected soft landing at risk and would need to be offset by higher interest rates in order to bring the economy back onto a sustainable growth path.
“Not only does this reinforce my repeated warnings
that tax cuts will mean higher mortgage and interest rate
costs but it is in language that even Don Brash should be
able to understand and from an authority which the National
and Act parties cannot ignore,” Dr Cullen said.
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