Editorial: Overdue, but tax cuts timely – When an initiative is an inordinate time in the making, there is usually a muted reception. Two cheers, then, for the Labour Party’s long-awaited tax cuts, which take effect today. At very nearly the conclusion of three terms in government… [NZ Herald Politics]
Today is the day that Michael Cullen will go off and quietly drown himself. He surely must if is true to his beliefs.
Make no mistake, Labour doesn’t want you to have tax cuts, Michael Cullen especially doesn’t want you to have tax cuts, and there is no guarantee that if re-elected he won’t renege. He has already done that once.
But how far is your tax cut going to go?
Not far. Power prices look set to increase 12% for many customers next month. This comes on top of a 48% increase in domestic prices over the last five years. Fuel prices alone rose 28 per cent in the year to July.
So you taxcut will get you a block of cheese, or a quarter a tank of gas, but more likely it will get you nothing of the sort as the financial catastrophe that Michael Cullen said would never hurt New Zealand is set to increase your mortgage rates or rent.
You can’t trust Michael Cullen with the economy, the only thing you can trust him to do is renege on tax cuts.