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11 January 2019

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Fucketh this government.

Martin's matrix makes monetary mockery missive.

Does decline of value from the mining and petroleum sector pose a question of potential advantage to the Nation, more especially those folk who uphold the national interest and liquidity (via personal income tax and, goods and services tax), a moratorium on financial activity in the corporate and primary (non-farm) resource sectors?

If not a 'class' war, the matrix make moot such filtering and figuring, not to say firing.

Actually, there was a tax hike from 1 January. But that was increased tax tariffs on hundreds of household items such as tinned fish, flour, chicken, milk and soap.

These will flow into higher prices - some of the tax increases were as high as 25%. There were also excise tax cuts of 30% on "luxury" goods such as perfumes and Sony Playstation consoles.

There were income tax cuts also - none for those on the minimum wage (they pay no income tax anyway) through to K710 per year for everyone earning more than K20,000 per year (including Charles Abel).

I think the PNG shadow treasurer, Ian Ling Stuckey, summarised the 2019 Budget changes well in a recent media release:

"For the poor, the PNC gives no income tax relief but takes higher tax tariffs.

"For middle income earners, the PNC gives some income tax relief but takes back even more in tax tariff increases.

"For high income earners, the PNC gives the maximum tax income relief and then gives them more through cutting excise taxes on luxuries.

“For the poor, the PNC taketh and taketh; for the rich, the PNC giveth and giveth”.

Full responses from the Shadow Treasurer are at http://www.opposition.gov.pg/

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