Your Views

Have your say on the issues of the day

Is this Budget 'for the rich'?

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:

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter


Have your say

1200 characters left

By and large our readers' comments are respectful and courteous. We're sure you'll fit in well.
View commenting guidelines.

Sort by
  • Oldest

© Copyright 2015, NZME. Publishing Limited

Assembled by: (static) on production apcf04 at 28 Nov 2015 06:55:59 Processing Time: 1479ms