Pocket money

National’s 1 October tax cuts will support our rural communities, local businesses, and the economic recovery.

The tax package is designed to enhance economic growth. It seeks to rebalance the economy towards earnings, savings, and investing, and away from the unsustainable borrowing, consumption, and over-investment in housing of the past decade.

The tax cuts on 1 October will leave the vast majority of people better off even after the GST rise. Most sole traders – such as farmers, agricultural contractors, and the vital small businesses that support our primary sector – will have more money in their pockets.

It’s important to remember they are also about providing the right incentives. They are the next step in National’s programme to encourage exports and investment.

Together – with the upcoming reduction in company tax – the tax cuts will allow rural enterprises to reduce debt, invest in their staff and plant, and support growth.