Today is Tax Freedom Day:
Today marks the first working day New Zealanders stop working for the Government and take home what they earn. According to the OECD, New Zealand’s government outlays as a percentage of GDP is 41.4% this year, making the 2015 ‘Tax Freedom Day’ fall on Queens Birthday Monday. Last year Tax Freedom Day was four days later, on 4 June.
Taxpayers’ Union Spokesman, Ben Craven, says:
“Today is the day where taxpayers begin working for themselves rather than working to support the burden of Government.”
“While 2015 Tax Freedom Day for New Zealand is earlier than it was in 2014, total Government outlays as a percentage of GDP remain higher than the OECD average.”
“Despite the positive trend, there is still a long way to go before this Government returns to the earlier Tax Freedom Days enjoyed under the last Labour Government. We should be aiming to have paid off all of our taxes by April, not having to slave away for politicians into June.”
“While the Government is doing a reasonable job of managing the books, the growth of local government spending appears to be squandering most of the efforts to trim back the tax burden.”
OECD data on government outlays as a percentage of GDP can be found here (Annex Table 25). . .
Four days earlier than last year – we’re going in the right direction but need to keep moving that way and moving faster.