Norm Kirk would be happy to be one of these Nats
My wife wants a bigger pool and I’d like to work less. I’m not making much progress on either front and part of the reason is the crushing amount of tax I am forced to pay. In my small business, for every dollar that comes in almost half of it goes out in tax: GST, PAYE, FBT, ACC and in the event there is anything left over, income tax comes clobbers a third.
So, I was pleased to see John Key elected. National has a set of principles. These include limited government and personal responsibility. They have had nine years to implement their principles. How have they done?
When Bill English became Minister of Finance government spending was $60 billion. It is now $80b. Sovereign debt was a mere $10b when National took office. It is now $60b.
In nine years of relatively unfettered power, National has failed to roll back a single penny of the welfare state, failed to confront the disaster of the Resource Management Act, unwind restrictive building regulations or do anything consistent with their stated principles.
This is a centre-left government Norman Kirk would have been proud to lead.
English can point to the global financial crisis and Canterbury as excuses for this fiscal mess but this lacks credibility. Imagine a business owner being asked to explain nine years of trading losses responding proudly that he borrowed enough money to keep the doors open.
Fifty billion in new debt is $11,000 a person, double that when you consider that half the country pays no or minimal tax.
Labour and the Green Party have a vision for New Zealand that will result in substantially reduced living standards for virtually everyone except the Labour front bench, but at least they have core political beliefs.
According to the Tax Payers’ Union, National have pledged $6.8 billion in new spending over the next three years, and while this is a third of the $19 billion Labour has committed, this isn’t how a party that believes in limited government would campaign.
This government has cemented the expansion of the welfare state under Helen Clark and left vulnerable the productive members of the economy to even more aggressive taxation and expropriation by an incoming Labour government.
The prospect of that larger pool is receding into the distance as I’m left with the prospect of my taxes being increased to cover National’s debt and Labour’s $19 billion of new spending.
So to John Key and Bill Mr English, enjoy your retirement.
Mine has been postponed for at least a decade.