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National set to promise tax cuts in upcoming election

National is set to promise tax cuts in the lead up year's election, National leader Simon Bridges said today on TVNZ1's Q+A with Jack Tame. 

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Leader Simon Bridges said there was a “very clear case today for tax relief”. Source: Q+A

"Tomorrow, I will outline our economic plan will involve tax relief, infrastructure spend and investment, regulatory relief, a families’ package and a small business package," Mr Bridges said. 

"On tax, you already know we said no new taxes this term, we’ll get rid of the regional fuel tax, and we will index for cost of living increases, but I think we need to do more.

"There are people out there who feel they are treading water and going backwards, cost of living daily is getting all over them. 

"We believe there is a very clear case today for tax relief."

Last August, the party's finance spokesperson Paul Goldsmith told Q+A that they hadn't "ruled out" tax cuts. 

"What we’ve said so far is we’re going to adjust the rates for inflation, because every year the Government nibbles a little bit more for inflation."

It was a day after the party released its economic policy discussion document, pledging to "set a bonfire" on regulations and raise the retirement age.

National announced in January, 2019 it would bring in a 'rolling tax', linking income tax brackets to inflation and adjusting taxes every three years in line with the cost of living.

In the 2017 Budget, the previous National Government planned to increase the bottom three tax brackets. It was reversed by the current Government and reallocated through the families package. 

Today, Mr Bridges also discussed his pledge to not work with NZ First after the 2020 election. 

"I took this matter to the board of the National Party, they unanimously supported it, I took it to the National Party caucus, there was spontaneous applause.

"For the right, principled reasons, we are not working with NZ First.

"I mean what I say and I do what I say, we’re not answering their calls, we’re not working with them."

Watch the full interview below.

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Mr Bridges was interviewed about NZ First, housing and tax cuts on February 16, 2020. Source: Q+A