Tuesday, May 18, 2010

Budget will benefit the majority, says Bill English

The Government is attempting to sweep away claims that the 2010 Budget, to be released tomorrow, will mostly benefit the wealthy.

Finance minister, Bill English, is attempting to quell such fears, and claims that the wealthy will probably end up paying more tax than they did before. Primarily, the Budget is aimed at putting roadblocks in place that will prevent the rich from avoiding high taxes through legal loopholes.

Phil Goff, however, has not been so welcoming of such claims. "From the signals, this will be a budget for the most wealthy, not for middle or low income earners", Mr Goff said.

National also says that the Budget will be full of tax hikes for the rich, including a rise in GST, which has been expected for some time.

There have also been claims that the Budget will focus on cuts for Government spending, although there are no signs of this thus far.
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