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Labour's farming taxes would balloon farming costs, DairyNZ

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Labour and Green Party taxes would cost farmers tens of thousands more in operating costs, according to dairy industry body estimates.

DairyNZ calculates the environmental tax “trifecta” proposed by the two parties will add an average of $18,000 per year for each dairy farm and more than $63,000 per year for farmers drawing water for irrigation.

Chief executive Tim Mackle says the tax would severely reduce dairy farm profitability and possibly require additional borrowing for some farmers to meet expenditure.

“It would impact the success of our rural economy, and put at stake the livelihood of our rural communities.

“Our economists calculate the proposed carbon tax would add an average of $6850 to each farm’s costs, the nitrogen pollution tax would add $11,232 per farm – and then there’s........

© The National Business Review