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First Political is promoted by its banking industry founders as "the Future of Politics". It hails individual choice and prosperity as the key provisions to a safe and healthy future.
It proposes a $5 Trillion dollar saving by 2040, a 0% tax rate for earners up to $59,000.00, hugely reduced Student Loans, and full levels of Education, Civic and Healthcare spending as is currently funded by the New Zealand Taxpayer: Taking the $28b surplus that its policies create, it redistributes that money directly to the taxpayer (as below) as a $10,000+ Universal Rebate, eliminating government waste and the regressive welfare system.
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UPDATE: August 2005:
Compared with Labour and National policy issued in August 2005, First Political concurs with Treasury on estimates of government cost. Savings are as follows:
2 adults, 1 child - $500 per WEEK regardless of income. (cf Nat - $94, L - $89)
2 adults, 3 children - $633 per WEEK, REGARDLESS of income (cf N - $196, L - $192)
According to New treasury data, tax-free wage now $79,895 per person.
According to the CIA world fact book statistics, this also includes a 20 fold increase of doctors, 5 fold increase of dentists, zero waiting lists, and a 60% increase in teachers.
It is all possible.
Policies Include: - Increased responsibility of MPs by consolidation of roles into fewer representatives.
- Reduction of government Ad-Hoc spending privileges to $1b discretionary fund per year
- Selective Taxation Pooling- taxpayers can indicate whether their taxes contribute towards Health, Education or Civic Infrastructure.
- Returning the $28b+ surplus to taxpayers evenly.
- Maintain present Healthcare, Education and Civic funding levels.
- Maintain present Park, Museums, social services as provided by Rate Payers.
These policies are estimated to boost non government sector growth to 7.2% per annum over the first 5 years, and aim to put New Zealand back in the top 10 economies per capita by 2015.
Outline Social Welfare to be replace with the $28b on top of Health, etc. in following fashion:
- 0 - 18 years old: ... $3,250 per child to 18yrs for tertiary funding for naming both parents at birth.
- 18 - 21 & Civil servants, inmates and others in state custody: ... REDUCED TAX RATE
- 21+: ... reduced tax rate plus universal GDP rebate ($10,001.00 in 2006).
- 65+: ... Boost of GDP rebate up to and until rebate exceeds $15,000.
- All Tax free Cash in hand.
Which means that people who earn less than roughly 59,000 pay less tax than they receive in cash - so are much better off than they currently are!
Household of 2 Adults, 2 Children receive $26,502 cash in the hand in 2006, plus Healthcare, Civic and Educational services – all non deductible as income rises, eliminating current effective minimum wage of 90c an hour after welfare deductions.
Also eliminating Student loans in 3 years, and the need for the Cullen fund, effective immediately, which is much superior (so they claim) to wiping interst rates.
Low income earners save over 11,000% in taxation, the "average" person saves 300%, while the average worker saves 200% - and the wealthiest save too - the top 5% of earnier save over 7% on average, and average profitable business retain 24% more profits.
Totaling up the savings in bureaucracy and dead weight loss, the Party calculates a total saving of $5 Trillion by 2040, redistributed as part of the GDP Rebate.
First Political's "Win Win Win Win" Scenario.
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