It sure would suck to be a smoker in New York (unless you're Native American)

The price of smoking is set to become even higher in New York, as new tax law is set to push up the price of a pack of cigarettes to almost US$11.00 (NZ$15.46). The cigarette tax, as reported by Fox News, is set to jump by around $1.60, under a deal made between New York City and various state officials. 

A packet of cigarettes in New York City following the change would be over 5 dollars - making New York the fist city in the world to break the five dollar mark in terms of demerit taxes on cigarettes. 

At least one estimate, Fox News noted, showed that around half of all the tobacco purchased in New York was bought by Native Americans - who pay no tax on tobacco. 

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Key isn't ruling out further tax cuts

Prime Minister John Key has indicated in the frenzy over the recent 2010 Budget that he isn't ruling out further tax cuts. Mr Key told reporters this afternoon that he was happy with the new tax structures.

He's not ruling out further tax cuts in the future, however. "I am not going to rule out that there might be other changes in the future. There always can be."

Mr Key also stated that his government hadn't actually changed the level of tax, just the overall mix. "It's about broadening the base", he said.

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Peter Dunne slams Labour's proposed GST reform

Peter Dunne has slammed Labour's proposed plan to make essential items such as bread and milk exempt from GST.

In his speech to the House in response to the 2010 Budget, Mr Dunne commented on how the logistics and possible issues that would arise should Labour's plan be executed.

Mr Dunne cited the problems that would arise for retailers having to adjust their cash registers, that would have to be able to distinguish between 'essential items'.

In addition to this, he used the example of a ham sandwich to illustrate his point, saying that if you were to buy a ham sandwich under the GST proposed by Labour, you would have to pay GST for the ham within the bread, but not the bread itself.

Furthermore, Mr Dunne praised the 2010 Budget and commented on its benefits for the economy and the greater benefits for the average New Zealand family.

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