FRIDAY GRAPH: THE GREAT SPEND-UP

The following chart uses Treasury–Statistics New Zealand long-term time series to show that the increase in real tax revenues per capita during the Clark-Cullen period rivalled the increased taxation to fund World War II and the first Labour Government’s big spending programmes. Quite a remarkable ‘achievement’, in peacetime.  (The dollars are June quarter 2006 dollars).  A grand opportunity for tax cuts during a period of strong economic growth was sadly missed. 

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