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Thread: '15 per cent GST' danger within five years

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    MotherBear's Avatar
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    Default '15 per cent GST' danger within five years

    '15 per cent GST' danger within five years
    Page 1 of 3 .....10:40AM Monday Oct 20, 2008
    By Audrey Young

    A tax expert predicts GST could have to rise to 15 per cent within five years, to dig the country out of deficits delivered by the worsening world economy - and big election promises.

    John Shewan, a specialist tax partner and chairman of PricewaterhouseCoopers New Zealand, said last night that GST could hit 15 per cent and the top personal tax rate increase to 45 per cent.

    Goods and services tax now adds 12.5 per cent to purchases and the top personal tax rate is 39 per cent.

    Both National and Labour were quick to distance themselves from the suggestion this morning.

    National leader John Key said told a press conference this morning that if National is elected and does a "half decent job" at growing the economy, then increasing GST and the top tax rate will not be necessary.

    He said his government would be borrowing because "in the short term everyone's going to be borrowing because we've got an anticipated deficit for the year and the year after," Mr Key said.

    More here.
    Mother Bear

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    Duke's Avatar
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    I dont mean to talk politics, for the simple fact...its SUX...but,,
    Who is this John Key( I know he is the leader of the national party and in hopes of being prime minister)? I seem to hear alot about him lately, any personal opinions out there about this guy or the national party? What is his secret agenda for NZ?
    Is NZ in trouble with this new world order, or is it just the same old political BS between parties?
    Im speechless of what Im seeing and hearing here in the US, its disgusting!
    God I wished we would have listened to the american indians.

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    Welshgirl's Avatar
    Welshgirl is offline Super Moderator
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    You can read aout him here John Key - Wikipedia, the free encyclopedia and here John Key - NZ National Party Leader - Leader of the Opposition .

    Peronsally, I don't like the guy but I will be out of the country on election day, so won't be voting - I will arrive back on the 16th December with great trepidation about who is running our country.

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