Key reveals more of National's true agenda
National Leader John Key wants to take money from working families to pay for tax cuts for his rich mates, Finance Minister Michael Cullen warned today.
"Mr Key promises to repeal last year's extension to Working for Families and redistribute it as tax cuts.
"It doesn't make sense socially, it doesn't make sense economically," said Dr Cullen.
"The whole point of Working for Families was to make it worthwhile for people to stay in work.
"Mr Key's suggestion would increase the abatement rate and so increase the effective marginal tax rate for working families.
"His tax cuts would not give anything meaningful to anyone who needs it most, but just more for the well off who don't need it. Once again National show how out of touch it is with middle New Zealand.
"The current debate over monetary policy has been revealing. We are now seeing more of National's true agenda. It promises a future rooted in the failed polices of the 1990s.
"Bill English talks constantly about cutting government spending - he means fewer nurses, doctors, teachers. He talks about labour market reform - he means lower wages.
"Now National is prepared to slash a successful scheme which will lift 70,000 kids out of poverty.
"This is more irresponsible policy from the party that promised reckless multi-billion dollar tax cuts only 20 months ago - cuts that would be hitting exporters today through higher inflation and higher interest rates."
"Mr Key promises to repeal last year's extension to Working for Families and redistribute it as tax cuts.
"It doesn't make sense socially, it doesn't make sense economically," said Dr Cullen.
"The whole point of Working for Families was to make it worthwhile for people to stay in work.
"Mr Key's suggestion would increase the abatement rate and so increase the effective marginal tax rate for working families.
"His tax cuts would not give anything meaningful to anyone who needs it most, but just more for the well off who don't need it. Once again National show how out of touch it is with middle New Zealand.
"The current debate over monetary policy has been revealing. We are now seeing more of National's true agenda. It promises a future rooted in the failed polices of the 1990s.
"Bill English talks constantly about cutting government spending - he means fewer nurses, doctors, teachers. He talks about labour market reform - he means lower wages.
"Now National is prepared to slash a successful scheme which will lift 70,000 kids out of poverty.
"This is more irresponsible policy from the party that promised reckless multi-billion dollar tax cuts only 20 months ago - cuts that would be hitting exporters today through higher inflation and higher interest rates."