Labour planning to increase top tax rate

Stuff reports:

Labour had gone into the last two elections promising to lift the top personal rate “and we are looking closely again at that”, he said.

“I think it is core to the kind of fair society I think we should have, that those who earn the most contribute a little bit more to ensure everybody has better opportunities. I never resile from that. The exact detail of that is what we are working on.”

Robertson said 2016 was the year Labour would put forward more concrete policies.

People on the top tax rate pay 33% on income over $70,000 and 15% on top of that on good and services they consume. I reckon that is more than enough.

Those earning over $70,000 already pay 59% of all income tax in New Zealand.