Labour fudges fiscal drag fix

Labour has today announced plans to raise the GST registration threshold from $60,000 to $80,000. Commenting, Taxpayers’ Union spokesman James Ross said:

“The GST registration threshold was last adjusted in 2009. If it kept pace with inflation, it would now sit at $92,477. Partial relief is better than none.”

“It is refreshing to see Chris Hipkins finally acknowledge the effects of fiscal drag. Will he now commit to indexing income tax brackets to inflation?”