24 May 2023

Luxon admits party's tax plans blowout by $1.5 billion

From Morning Report, 7:49 am on 24 May 2023
National Party Christopher Luxon after the Budget 2023 announcement.

Photo: RNZ / Samuel Rillstone

The Council of Trade Unions claims the National Party's plans to change tax thresholds is facing a $1.5 billion blow-out as a result of new forecasts from the 2023 Budget. 

National had priced the plan up at $6.6 billion over four years.

But the CTU says its analysis, verified by tax consultant Terry Baucher, suggests it would now cost $8.2 billion.

The National Party has resisted providing any details of how it might pay for its tax plans, other than cutting what it calls 'needless spending' in government agencies.

Party leader Christopher Luxon spoke to Guyon Espiner.