Tax Cuts Lead to MP Salary Falls

January 22, 2009 New Zealand FinanceNew Zealand Taxation  No comments

New Zealand Prime Minister seems concerned by the level of government spending amidst a recession and raised expenditure on planned tax cuts. He claimed that the government should not raise salaries of its Ministers of Parliament and other governmental positions.

The move to counter the effects of the tax cut inflicted deficit on the Government budget will be made in the form of a suggestion by the National Party to the Remuneration Authority.

Ironically John Key’s wealth has been valued at over NZD$50 million. His current Prime Minister salary is at $393,000. He is reputed to donate a significant portion of this to charity.