ACT is the only party that has released a fully costed Alternative Budget. ACT’s Alternative Budget for Real Change shows how the Government could reduce spending without touching any frontline service, and then deliver significant tax cuts to middle income New Zealanders.
ACT shows how expenditures could be reduced by $7.2 billion with measures including an end to corporate welfare and reversing the 30% bloat to the public service delivered by Labour.
ACT’s lower, flatter tax plan would deliver a tax cut for every earner. A Nurse with one child, for example, earning $70,000 would receive around $2,300 in tax relief under ACT’s plan.
People earning between $2,000 and $48,000 will get a Low and Middle Income Tax Offset of up to $800 that offsets the additional $980 paid in income tax. They will also receive an additional $253 in carbon tax refunds for every person in their household, leaving them with more money in their back pocket. ACT’s tax swap leaves everybody better off.