GST hike not good for workers

Any increase to GST, as being floated by the  government appointed Tax Working Group, would hit low income families and workers hard says Council of Trade Unions Economist Bill Rosenberg.
“GST hits low income people harder. New Zealand needs to maintain a progressive tax system – one that has higher proportional rates for those more able to pay,” said Rosenberg.
Finsec said that the proposal to increase GST to 15% to fund cuts to the personal and company tax rates would transfer wealth from customers and staff to the banks themselves.

“The Treasury Secretary said last week that he thinks the company tax rate is too high. Lowering it so companies like the Australian owned banks can make more profit while their customers and staff pay more for their groceries is morally questionable,” said Finsec Campaigns Director Andrew Campbell.

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