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There’s a lot more thinking to be done on GST. No decision has yet been made about increasing GST to any particular level – the Government has asked for more work to be done on this.
For hard-working Kiwis, lower personal taxes across the board are good because they give people incentives to work hard, improve their skills and get ahead here in New Zealand. But we do have to pay for them.
Our Government is acutely aware that a rise in GST would have an impact on lower and middle income New Zealanders – so we’re not interested in tax changes that adversely affect these groups.
Nevertheless, we want to encourage more investment, savings and exports and have less borrowing and consumption – because New Zealand spends a lot more as a country than its earns.
The work on GST and tax cuts continues. The Budget on May 20 will outline more details.
Eric Roy 