ACT New Zealand Finance Spokesman Sir Roger Douglas today released information showing that New Zealanders have spent more than a decade being robbed blind through over-taxation.
"These figures demonstrate that the spending binge of the past 13 years is today costing every man, woman and child $7,567.63 - or more than $30,000 from every family each year in taxation" said Sir Roger.
That is in direct contrast to the 13 years preceding 1996 - the period of reform - during which time the burden of Government spending increased by only $300 per person. From 1984 - 1996 we had economic growth. Now we have economic stagnation. It doesn't take a genius to figure it out: Government spending stifles innovation and growth.
"Given the current economic climate, this robbery must stop. What have families got for their $30,000? How has the Families Commission helped? Or introducing tax breaks for the racing industry? Has the massive expansion in Government really been worth it?
"Had that money been left with families, most would now be mortgage free, educated two children at an Independent School, or provided the entire family with private health insurance while allowing them four family holidays to Australia.
"But the reality is much worse. Wasteful Government spending has significantly decreased our economic growth. Taking into account the lack of growth, the figures are disgraceful: average salaries are $15,000 lower than if we had left the cash in the wallet of those who earned it.
"If we factor in this loss of income, and add it to the increase in Government spending, then the average family is $60,000 worse off every year. It's time to get real and drastically cut wasteful Government spending - and we need to do it now," said Sir Roger.
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