Economy


ACT Believes

National and Labour’s overly cautious economic tinkering has delivered very modest economic performance.  National, in particular, campaigns from the right just as surely as it governs from the left.

This is not good enough, our economy is growing because more people are coming here and putting in more hours, but productivity growth and therefore real wage growth remains flat. ACT promotes more efficient government spending with lower flatter taxes and no new taxes. Less tax leads to a more productive economy with high growth and low unemployment. ACT’s opponents promise higher taxes while continuing wasteful spending.

Successful businesses are good for New Zealand, but it’s not the government’s job to prop up the ones that aren’t. Corporate welfare costs us too much with little or no benefit to everyday New Zealanders.

Act has

Kept the political left out of power for the past eight years, sometimes with a single vote in parliament.

Made the 2009 tax cuts possible by providing a working majority in Parliament.

Criticised stealth taxation the form of bracket creep – where inflation is pushing New Zealanders into higher tax rates despite no real change in income.

Advocated for an end to corporate welfare, arguing that Government should cut tax for all businesses instead of picking winners.

ACT will

  • Lower personal income tax and end stealth taxation. People should be allowed to spend their money as they choose: starting their own business, investing in their education, paying off their mortgage or supporting their favourite charity.
  • Cut the company tax rate by abolishing corporate welfare. This will allow all New Zealand businesses to grow; encourage entrepreneurs to start new businesses by reducing the cost of capital to New Zealand businesses.
  • Scrap the ‘charitable purpose’ tax loophole to level the playing field for New Zealand businesses.
  • Cut wasteful spending of taxpayer’s money such as Government trying to pick winners by giving money to favoured businesses.
  • Champion free trade agreements so New Zealand businesses have access to large overseas markets where they can sell more of their goods and services
  • Reduce red tape and reform the Resource Management Act to make it easier for New Zealand businesses to operate and grow.
  • Maintain spending on core services (like Health, Welfare and Education)