Labour’s ultra-cautious tax policy will be a relief to the wealthy

Tom Pullar-Strecker, Stuff, Sep 09 2020

ANALYSIS: Labour’s long-awaited tax policy will come as a relief to the wealthy but risks frustrating the party’s traditional supporters.

The party had been widely expected to announce a new top rate of income tax and setting that at a non-scary rate of 39 per cent is good politics; 40 per cent would have sounded so much worse.

But Labour has been more cautious than expected in deciding that the new tax rate would only kick in on income above $180,000, capturing just 2 per cent of earners.

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