ACT leader David Seymour was grilled on his party’s tax policy yesterday. ACT proposes a two-rate income tax system, with a 17.5 per cent tax rate on income up to $70,000, and 28 per cent above that.
“You tell me what the gap should be,” he added. “Do you want more wealthy people in New Zealand or less?”
Seymour argued higher tax rates lead to wealthy Kiwis leaving the country and accused parties on the left of having policies that “chase the wealthy away”.
Seymour wants to redirect carbon tax refunds by switching government funding from reinvestment in climate change programmes to paying New Zealanders to offset taxes. He says, “Those climate change initiatives have been completely ineffective at reducing emissions.”
Part of the way ACT would abolish “wasteful environmental expenditure” is by axing the following climate programmes:
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