It is UnitedFuture policy to:
- Support a broad-based low rate tax system;
- Support the retention of the Reserve Bank Act, the Fiscal Responsibility Act, the Public Finance Act in their current form;
- Support recurring regulatory responsibility reviews;
- Improve transport infrastructure, giving priority to areas where ports, roading and rail investment constraints are holding back economic growth and development;
- Ensure that the opportunities presented by the Canterbury Rebuild, both for the economy and for the true revitalisation of a city, are not lost;
- Strongly support the Better Public Services targets as a way to ensure that government spending is efficiently targeted towards measurably improving outcomes;
- Support free and fair trade and embrace free trade agreements and pacts where there is a reasonable opportunity for New Zealand to benefit, and where New Zealand's unique comparative advantages are preserved.
Tax
UnitedFuture believes the tax system should work in the interests of those raising families and it should empower family and community self-sufficiency rather than creating dependency.
Under the present tax system people who have no dependents pay exactly the same amount of tax as people with dependents. Couples who are self-employed in farming or business and retired couples are already able to split their income for tax purposes but this is not available for those on PAYE incomes.
It is UnitedFuture policy to:
- Oppose the introduction of a capital gains tax;
- Introduce Income Sharing for couples with dependent children, to reflect the fact that the family is generally the economic unit and not an individual earner in a family. Income Sharing means that, for tax purposes, the income of both parents is combined and then divided equally. Under our progressive taxation system this would result in a reduction in combined income tax paid where there is a significant difference in income between partners. It attributes equal value to the different roles each parent plays, whereas our current tax system does not recognise the contribution of parents who spend all or part of their time at home with children.
Income Sharing will give couples with children the option of having a parent work fewer or more flexible hours, be at home raising their children, and able to retain more of their combined after-tax income. Since the government subsidises childcare for those returning to paid work, it should also acknowledge the contribution of those who have decided to forego their income, in whole or in part, to stay at home with their children.
Legislation to put Income Sharing into effect has already been introduced into Parliament by UnitedFuture.
Savings
UnitedFuture believes that savings are an integral part of wealth and asset creation that helps strengthen families in the long term.
It is UnitedFuture policy to:
- Introduce compulsory Kiwisaver, which will increase the saving rate of New Zealanders, deepen the investment pool and provide financial security and certainty in retirement;
- Seek to have a portion of KiwiSaver funds re-invested in NZ innovation and infrastructure assets;
- Re-introduce savings schemes to children at school, in partnership with the banking industry, and promote the purpose of savings as a core feature of the ‘life skills’ curriculum.
Small Business
It is UnitedFuture policy to:
- Further simplify the tax system to relieve the compliance burden on SMEs;
- Encourage entrepreneurial activity, especially export orientation, assistance in export introductions, pooling of expertise through business incubators and mentoring schemes, and introduction to investors all through a regionally-available MBIE co-ordinated service that has minimal bureaucracy attached to it;
- Move towards a single point of contact for SMEs seeking advice on a range of government policies, including the development of a single business identification number for ease of reference.
Employment Relations
It is UnitedFuture policy to:
- Improve workplace literacy through shared funding of providers by business and government;
- Review employment law to ensure that it reflects the reality of workplace relations in small businesses and gives greater flexibility to small employers (under 20 staff);
- Ensure that advice and information is available to businesses to support them in hiring migrants to fill skill shortages;
- Support the Recognised Seasonal Employer Scheme;
- Support continuation of the 90 day probationary period, as it gives the opportunity for people, particularly youth and new migrants, to enter the workforce.