Kōrero: Taxes

Economic miracle

Economic miracle

Finance Minister Robert Muldoon holds up his 1978 election-year budget as he walks on water, propped up by overseas borrowing. Taxes were not raising enough money to cover government spending so Muldoon borrowed money overseas to make up the shortfall. Economic problems signalled that taxation needed significant reform, but Muldoon resisted structural changes.

Courtesy of Peter Bromhead

Te whakamahi i tēnei tūemi

Alexander Turnbull Library
Reference: A-427-1-001
Cartoon by Peter Bromhead

Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.

Ngā whakaahua me ngā rauemi katoa o tēnei kōrero

Te tuhi tohutoro mō tēnei whārangi:

Paul Goldsmith, 'Taxes - Gradual complication of the tax system – 1960 to 1984', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/mi/cartoon/21552/economic-miracle (accessed 18 November 2019)

He kōrero nā Paul Goldsmith, i tāngia i te 11 Mar 2010, updated 2 Sep 2016