The Taxpayers’ Union today launched my report, Monopoly Money, which examines the cost and case for New Zealand’s extensive corporate welfare programmes.
Figure 1: Corporate welfare, Budgets 2008/09 to 2014/15
My report, which examines the cost of corporate welfare examines government spending since the 2007/2008 budget, shows:
- Since National took office, corporate welfare has cost taxpayers $1-1.4 billion ($600 – $800 per household) per year
- If corporate welfare was abolished, enough money would be saved to reduce the corporate tax rate from 28% to 22.5%
- If applied to personal income tax rates, the saving would allow the 30% and 33% income tax rates to be lowered to 29%
Figure 2: Corporate welfare, Budgets 2008/09 to 2014/15 by Vote
Figure 3: Distribution of total corporate welfare across votes, 2008/09 to 2014/15
Utopia, you are standing in it! 
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