A significant shortfall in tax revenue revealed in today’s Crown accounts shows only the lucky few are benefiting from National’s much-hyped ‘rock star’ economy, says Labour’s Finance spokesperson David Parker.
“Compared to December’s Treasury forecasts, core tax revenue including GST, income tax and corporate tax receipts are $600 million below forecast. That’s the second month in a row that the smile has been wiped off Bill English’s face.
“That shows that, despite National’s hype of its ‘rock star’ economy, Kiwi families aren’t seeing the benefits. This economy is as much of a rock star as Bill English is.
“The only winners are National’s groupies, led by chief supporter Phil O’Reilly.
“This is more evidence that reliance on dairying, held up by record commodity prices, and the Christchurch rebuild are shaky foundations for an economy that needs to be much more diverse.
“Only Labour will deliver an economy for all Kiwis, David Parker says.
21 February 2014 MEDIA STATEMENT