Ōtaki MP Nathan Guy has welcomed the 2010 Budget and tax cuts for local residents, in particular for senior citizens.
“Budget 2010 creates a fairer tax system, rewards hard working people in the Ōtaki electorate and helps families get ahead. This is the biggest change to the tax system in 25 years,” says Mr Guy.
“The Budget includes across the board tax cuts and a small rise in GST which takes effect from 1 October 2010. Beneficiaries will be compensated for the GST increase and superannuitants will be better off by around $11 a week per couple, or $560 per year.
“This is good news for our region because Kāpiti and Horowhenua have 16,000 people aged over 65, one of the highest numbers in the country.
“A family on the average household income of $76,000 will be around $25 a week better off, or $1300 a year, as a result of the changes to income tax and GST.
“An extra $2.1 billion is being provided for health over the next four years, which is great news. Health spending is now at the highest level it has ever been in New Zealand’s history. MidCentral DHB receives an extra $13 million which will help them in their challenge to balance the books.
“For education there is an extra $1.4 billion over the next four years, including a large boost to operational funding which will help the many schools in my electorate.
“National’s promise to deploy 600 new police is well on track, and more funding is available for community law centres, such as the one in Levin.
“There is ongoing large investment in infrastructure, such as the Levin to Wellington expressway including Transmission Gully, and $250 million into upgrading KiwiRail.
“The National government has successfully navigated the worst global recession in a generation. This Budget will now drive the New Zealand economy forward by focusing on investment and exports instead of debt and consumption.”
“I encourage people to find out how they will benefit from tax cuts at my website www.nathanguy.co.nz.”
