Great write-up.
In fact, the line “Labour and National had broadly similar fiscal approaches…” is worth repeating.
So the default position we should be applying to the current government is – where is all the evidence for the claims that Luxon is making?
The wealth tax the Greens propose is specifically designed to mitigate this, as it wouldnt apply to the first $2 million net for individuals and $4 million net for couples.
They did think of that, but what are the chances that figure will be adjusted for inflation?
I don’t see why it couldn’t be, either with some sort of legislated review period or formula to calculate the threshold.
In any case I’d prefer having one alongside our non-indexed tax system to not having one at all