September 09, 2020
Tax on higher incomes to pay for recovery
Tax changes and incomes becomes the focus of the election campaign today, with Labour unveiling changes for a new top rate of 39 percent on income earned above $180,000.
The extra revenue estimated at $550 million a year would be used to protect health and education, control debt, and support the recovery plan.
It also promised to close loopholes so multi-national corporations pay their fair share of tax.
Finance spokesperson Grant Robertson says the tax change would affect fewer than 2 percent of New Zealanders.
In Australia income over $180,000 is taxed at 47 percent.
Meanwhile the Māori Party says the minimum wage should be listed to $25 an hour, and benefit levels should be doubled.
Co-leader Debbie Ngarewa-Packer says her party’s proposals would also address Māori pay equity.
She says Māori are contending with a low-wage economy which is increasingly comprised of insecure jobs with no guarantee of hours and pay.
Copyright © 2020, UMA Broadcasting Ltd: www.waateanews.com