The Kākā by Bernard Hickey
Wednesday: National's 4 tax cuts & 4 tax hikes

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Wednesday: National's 4 tax cuts & 4 tax hikes

National to unveil 'self-funding' tax plan at 10.30 am, including four tax cuts for the 'squeezed middle' worth $250/fortnight for average household with kids & $100/fortnight for childless homes
The IMF says our housing remains overvalued. Meanwhile, National is proposing to roll back the bright line test to two years and reverse the removal of landlords’ ability to deduct interest costs from their tax bill. Photo: Lynn Grieveson / The Kākā

TL;DR: National is set to unveil the details of what it says is a ‘self-funded’ plan worth $2 billion of four tax cuts offset by four tax hikes later this morning.

Elsewhere, the IMF has warned New Zealand’s house prices are 50% over-valued and the Government faces big emissions credits liabilities because it’s on track to miss its Paris Agreement committments. The IMF suggested (again) the Government look at introducing capital gains and land taxes to pay for climate, housing and public transport investment.

Also, a poll shows TOP are unlikely to get into Parliament through leader Raf Manji winning the Ilam electorate.

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Most of tax cut money to go to high-paid landlords

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The Kākā by Bernard Hickey
The latest daily snapshot of the news, detail, insight and analysis on geo-politics, the global economy, business, markets and the local political economy for citizens and decision-makers of Aotearoa-NZ.