GST to 15% and top income tax to 45%

Labour have left the economy with a projected decade of deficits and the latest economic news, coupled with Labour’s massive spending promises, could push the country into a structural deficit.

Top tax expert John Shewan has looked at what might have to be done to break out of Labour’s decade of deficits. He says GST might need to go from 12.5% to 15.0% and the top tax rate from 39% to 45%.

Is this what Labour has planned for its December mini-budget?