Finance fishing boats

Tax revenues topped forecast by $2.7tn as pressure mounts on government to ease inflation

“Kiwis are working harder just to stand still, paying more taxes while trying to keep up with rapidly rising prices, ever-higher borrowing costs and no prospect of relief,” the finance spokesman said. of National, Nicola Willis.

“The Minister of Finance has reneged on his responsibility to meet these challenges, with no plan but to spend more and tax the Kiwis more to pay.”

Robertson went to great lengths earlier this week to reassure New Zealanders that he is a good economic manager. It has given itself new budgetary rules and a new debt ceiling of 30% of GDP.

“As we transition to a new normal after the peak of COVID, now is a good time to resume a set of fiscal rules to carefully manage costs while planning for the future.”

The government’s splash of cash is under the microscope, with the Auditor General writing to Treasury Secretary Caralee McLiesh this week to express concern over responsibility for COVID-19-related spending, which now stands at $74 billion. dollars.

“Parliament and the public should be better able to understand the services provided and the results achieved with public money”, the auditor general wrote.

The fund has spent about $20 billion on the wage subsidy program during the shutdowns, but questions have been raised about the appropriateness of $26.6 million for cameras on fishing boats and $515 million for school meals, for example – policies with tenuous links to COVID-19.

“As New Zealanders have to cut their budgets left, right and centre, the Labor Party has taken $2,138 in extra taxes from the average New Zealander, who is blown on every project they can find “said ACT chief David Seymour.

Prime Minister Jacinda Ardern, speaking in parliament on Wednesday, said there was no silver bullet to help Kiwis cope with rising inflation, but she highlighted efforts by her government to ease the financial burden.

“We can make a difference in different ways: reducing the cost of fuel, increasing support for low income people with the increase in the tax credit for families, payment for winter energy; all these things make a difference.”

Newshub’s latest poll found more than three-quarters of the country don’t think the government has done enough to manage the cost of living.