NZ parties promise election tax cuts
Updated
New Zealand's main opposition National Party has announced a multi-billion dollar tax cut initiative that's solely aimed at returning to power at November's election.
Prime Minister Helen Clark's Labour-led government implemented its own tax cut program this month, giving the average worker an extra $NZ 12 ($US 7.5) a week.
But National Party leader John Key is offering workers another $NZ 18 dollars ($US 11) a week from April next year and is looking to cut the top tax rate by one per cent.
"In the short term, personal tax reductions will provide much needed flexibility to tax players, confronted with difficult economic conditions," he said.
"By 1 April 2011, nationals tax cuts program will deliver a worker with an average wage a tax reduction equal to 47 dollars a week as compared to the taxes New Zealanders have been paying for the last 9 years."
