[Ruth Dyson is concerned about the Government's tax cuts. She has worked out how much we will be getting in the Port Hills, and finds the policy expensive, unfair and underwhelming.]
This month many New Zealanders received tax cuts. I am concerned however about the facts of this tax policy for our electorate.
For New Zealand as whole, the top 10% of wage and salary earners get 42% of the tax cuts, while the the bottom 20% get just 2%. Looking at people on a $1,000,000 salary (according to the IRD, there are around 650 people who earn $1m or more), these have just received around $1,000 per week extra.
But what about the Port Hills? In our electorate the median wage is $25,500 per year. This means a tax cut of $3.79 a week after accounting for the GST increase.