Press Release Stephen Berry Taxation

Labour is History – Not Economists

Stephen Berry says the tax policy released by Labour on Thursday does not add up. “Their new taxes in some places only pay for tax reductions in other places. These taxes don’t fund their grandiose spending plans and they don’t shrink the deficit!”

Government spending currently exceeds revenue by $17 billion. Labour’s proposed capital gains tax is forecast to raise $26 billion over the next 15 years, which will be used to pay off debt and pay for the cost of maintaining a National Superannuation system.

“Labour has less sense than it does support. A $17 billion deficit over 15 years equals $255 billion. How is a tax that, using socialist math, will raise $26 billion over the same period going to not only close the deficit but pay off debt and fund our impending superannuation crisis?”

Berry also attacks Labour’s plan to criminalise success and independence through a proposal to set a new top tax rate of 39% on income earned over $150,000. Labour intends to use the proceeds, estimated at $300 million to pay for the removal of GST from fruit and vegetables (costing $300 million) and the creation of a $5000 income tax free threshold (costing $1.2 billion).

“Aside from the severely depraved notion that parasitical politicians believe they have the right to leech off the success of others, once again the maths of Labour’s politicians is clearly deficient.”

“Politicians of all political colours have to accept that the current direction of Government is unsustainable and can no longer continue. The economy has no more revenue to give up. The spending programs of National and Labour alike are not affordable and never will be again!”

Stephen Berry’s Policies: • Create a $15,000 income tax free threshold costing $4.6 billion • Give individuals the option to opt out of Government. They pay no income tax and receive minimal Government services. Those choosing to opt out will still pay fuel taxes and GST to fund roads, police, justice and the military. • Sell all state owned enterprises • Privatise Government social services and sell the state housing system (worth $15.1 billion) • Reduce the costs in policing and justice by ending the prohibition of drugs • Slash the number of Government departments (e.g. Ministry of Maori Development, Women’s Affairs, Youth Affairs, Agriculture, Consumer Affairs, Racing etc.)

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