The Press endorses tax cuts

The Press has endorsed tax cuts in today’s editorial. Key points are:

* One thing, at least, has been cleared up early in the current election campaign: the myth that tax cuts were impossible has been shown to be false

* Its [Labour’s] latest promise would create beneficiaries out of those who only a few years ago the Labour Party decreed were “rich” and should be taxed at a higher rate

* As fast as the revenue has grown, spending has grown even faster. Much of it has been hugely wasteful.

* The waste in junk polytechnic courses and suchlike have become notorious, the failure to improve health outcomes despite all the extra money that has been spent is well known.

* Above all, tax cuts that would deliver the right signals to hard-working, productive, enterprising workers and businesses are necessary. Incentives for growth should be spread as widely as possible to produce the maximum benefit. Taxing one group of New Zealanders to provide privileges and advantages for others is no way to achieve social justice or the economic advancement we need.

I can’t recall a recent editorial that has made the case for something so well.