8 Sep 2014

National Party promises to reduce income tax from 2017.

4:34 pm on 8 September 2014

The National Party says if re-elected, it would begin to reduce income taxes from April 2017.

The party’s finance spokesperson Bill English said a National Government would allow about $1 billion a year for new spending, including between $600 million and $700 million a year more for health and education.

He said the party would also reduce net Government debt to 20 percent of GDP by 2020, after which it would resume payments to the Superfund.

Mr English said ACC levies on households and businesses would be reduced from April 2016 and income tax cuts would begin from 1 April 2017, providing economic and fiscal conditions allow.