‘Belt-tightening’ for rich
PA Wellington High-income earners may have to tighten their belts if the Government is to reach agreement with unions on cutting real wages, according to an economist, Mr Len Bayliss. “One cannot expect union members to substantially tighten their belts when at the same time the tax rates of those on high incomes and on companies are being substantially reduced,” he told the National Party’s
Miramar electorate conference Mr Bayliss said lower real wages was one of several measures the Government should take to switch from Rogernomics to “Keatingnomics” — policies adopted by Australia’s Federal Treasurer, Mr Paul Keating. New Zealand also needed a competitive exchange rate, firm monetary policy and probably a significant increase in GST to turn the budget deficit to surplus.
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Press, 24 September 1988, Page 5
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126‘Belt-tightening’ for rich Press, 24 September 1988, Page 5
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