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Geof Nightingale: Independent Tax Expert on Inland Revenue's recommendation to raise taxes
Published 2 weeks, 6 days ago
Description
A tax expert believes new Inland Revenue recommendations fly in the face of long term fiscal forecasts.
The report lays out a range of suggestions, including a capital gains tax and increasing the Goods and Services tax from 15%.
It warns this would disproportionately affect those less fortunate, so should be paired with cash transfers to poorer workers.
Independent tax expert Geof Nightingale told Ryan Bridge the aim is to ease the Government's deficit.
He says you can borrow, which isn't sustainable long term, or you can cut expenditure and raise taxes.
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