Luxon Fence Sitting on Automated Tax Indexation
November 8, 2022
ational leader Christopher Luxon is on the fence about whether National will continue to index tax brackets to inflation beyond the one-off adjustment his party has promised.
Former leader and finance spokesman Simon Bridges promised to pass legislation that would adjust tax brackets with inflation automatically every three years. He introduced a members’ bill to this effect, but it was voted down.
Earlier this year, Bridges as finance spokesman, promised a one-off adjustment of most tax thresholds for inflation that has occurred between the end of 2017 and the end of 2021.
Current finance spokeswoman Nicola Willis said that if the party can adjust the brackets even further it will, but Luxon would not say whether the party will bring back automatic indexation, suggesting the cuts are a one-off at this stage.