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Is this Budget 'for the rich'?

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Finance Minister Bill English. Photo / Mark Mitchell
Finance Minister Bill English. Photo / Mark Mitchell

Prime Minister John Key has defended bigger tax cuts for the wealthy, arguing that they already paid a big portion of tax.

Today's Budget includes these key points:

- The tax rate for those earning between $48,001 and $70,000 falls from 33 per cent to 30 per cent - more than was expected.

- GST increases from 12.5pc to 15pc.

- Company tax rates fall from 30pc to 28pc.

- All income tax brackets fall, with the top rate levied on income over $70,000 per year coming down from 38pc to 33pc.

Is this budget 'for the rich'? Here is the latest selection of Your Views:

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