Back to Black: Taxpayers’ Union releases plan to restore New Zealand’s public finances

The New Zealand Taxpayers’ Union has today released Back to Black: A plan to rebuild New Zealand’s public finances before it’s too late.

Taxpayers’ Union spokesperson Tory Relf said:

“Seeing as Finance Minister Nicola Willis appeared to enjoy our A Pathway to Surplus report enough to bring it along to HYEFU, act on our Fees Free recommendation, and announce a reduction in bureaucrat numbers, we thought it only fair to provide her with an updated edition.”

“Back to Black gives the Minister a practical, oven-ready plan to stop the debt spiral and get the books back into surplus.”

“New Zealand is drowning in red ink. Debt has blown out from $46 billion in 2008 to $291 billion today, and is forecast to hit $363 billion by 2030.”

“The report identifies $14.11 billion in savings next year, enough to wipe out the forecast $13.9 billion deficit and deliver a $210 million surplus. That includes $4.5 billion from better-targeted welfare, $930.6 million from ending corporate welfare, $782 million from tertiary education reform, and $639.4 million from cutting duplicated demographic ministries.”

“Across the forecast period, the report identifies $59.29 billion in savings, plus $104.49 billion in possible asset sales to reduce debt and cut interest costs.”

“This is not austerity. It is fiscal common sense. Every dollar wasted on interest payments, bloated bureaucracy, and political pet projects is a dollar that cannot go toward hospitals, schools, police, or tax relief.”

“You don’t have to agree with every proposal. But pretending the current path is sustainable is no longer an option.”

“The path back to black is clear. What is missing is political will.”

Back to Black: A plan to rebuild New Zealand’s public finances before it’s too late is available at https://www.taxpayers.org.nz/back_to_black.