ELECTION 2020: Labour’s tax hikes give it room to spend

Thu, 01 Oct 2020

The Labour Party’s proposed digital transactions tax and the reintroduction of the top income tax rate will give it more room to lift spending in future budgets. Finance Minister Grant Robertson today released the party’s fiscal plan showing an annual increase of $225 million for the next four budget operating allowances at $2.63 billion compared to the Treasury’s pre-election economic and fiscal update. That increase comes from the $2.38 billion of extra tax revenue over four years that Labour expects to extract fro...

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