It's a Tale of Two Fiscal Plans in Week 6 of the Bribe-O-Meter, while the Opportunity Party has quietly added a $5,295-per-household uncosted spending promise.
ACT has doubled down on its commitment to cut spending, promising $17.86 billion in net savings over four years, equivalent to $8,619 per household. The party has identified $22.60 billion in savings, offset by $4.74 billion in new spending.
National, meanwhile, has increased its spending promises to $5.16 billion, or $2,489 per household, following the release of its fiscal plan. The increase includes $800 million for projects including the Belfast to Pegasus motorway, $604 million for Pharmac, and $452 million to extend school lunches.
The Opportunity Party has quietly committed to reinstating the old pay equity regime, which Treasury estimates would cost $10.97 billion, or $5,295 per household. Their uncosted pledge gets only a cursory mention in the recently-released disability position statement. This takes total new spending promises to $229.42 billion, or $110,724-per-household.
New Zealand First has also passed the $50 billion mark, with its $2.4 billion Working for Families announcement taking its total to $51.80 billion ($25,000-per-household). The Greens remain the biggest spenders, with $247.22 billion in spending promises, or $119,316 per household.
Labour still hasn't commented on the $8,654-per-household gap between its fiscal plan and the cost of its policy proposals. For context, Labour’s unfunded gap is larger than all of ACT’s net savings combined.
| Party | Spending Promise | Cost Per Household |
|---|---|---|
| ACT | -$17.86 billion | -$8,619 |
| National | $5.16 billion | $2,489 |
| Labour | $33.18 billion | $16,012 |
| NZ First | $51.80 billion | $25,000 |
| Opportunity | $229.42 billion | $110,724 |
| Green Party | $247.22 billion | $119,316 |
| Te Pāti Māori | Too vague to cost overall | N/A |
Taxpayers’ Union Head of Policy James Ross said:
"ACT is the only party so far promising to spend less of taxpayers' money, with net savings of more than $8,600 per household. All while promising tax relief and paying down debt."
"With New Zealand First's bill now at $25,000-per-household, and the Greens just shy of $120,000-per-household, the spending spree is showing no sign of slowing down. National's fiscal plan bumping their new spending up to $2,489-per-household has failed to buck that trend."
"The biggest surprise was a hidden pay equity pledge on Opportunity's website, which Treasury costs at $11 billion. If parties are flippantly adding $5,295 to each household's bill, is it really too much to ask for a heads-up?"
Weekly Bribe-O-Meter updates, including our Transparency Score Rankings, are available at www.taxpayers.org.nz/bribe_o_meter.
