Voting is now open, but that hasn't slowed the spend-up in Week 8 of the Bribe-O-Meter. New Zealand First are the big movers this week, adding 80 percent to their already significant spending tally.
Their defence policy paper promises a pathway to lift defence spending to 3 percent of GDP by 2031. We have costed the gap between this path and the Treasury's current defence spending track at $40.55 billion over four years, or $19,571 per household. This alone is nearly eight times National's total new spending promises, and it overtakes the BNZ buyback ($26.70 billion, or $12,884 per household) as NZ First’s largest spending pledge.
NZ First's law and order package adds a further $866 million, and they have added $39 million for game development rebates and Centre of Digital Excellence (CODE) uplifts. This takes their total to $93.32 billion, or $45,039 per household, up from $25,032 just last week.
The Greens released their fiscal plan this week, but forgot to include the vast majority of their spending promises. By our calculation, it has added a further $18.43 billion to their total, taking it to $272.31 billion, or $131,425 per household. However, the vague nature of the budget items in the Greens' fiscal plan makes it difficult to judge what lines are (supposed) to encompass which pledges.
The fiscal plan raises $28.75 billion of net new revenue over four years. This leaves $243.56 billion of their spending promises unfunded, or $117,550 per household. That is 89.4 percent of their total spending, admittedly a slight decline from the 91.4 percent of spending which was unfunded as of last week.
Despite new promises this week, Labour remain at $34.23 billion ($16,521 per household). $80 million for 1,000 teacher aides and $45 million for fair pay agreements are covered by their fiscal plan's $968 million 'future announcements' allowance. National remain at $5.11 billion ($2,467 per household), and ACT remain the only party proposing net savings (of $17.86 billion, or $8,619 per household). Opportunity have edged up slightly to $229.62 billion.
Despite voting now being open, neither New Zealand First nor Opportunity have released a fiscal plan. New Zealand First have dropped half a star in the transparency rankings to 1, while Opportunity drop down to 2.5 stars.
| Party | Spending Promise | Cost Per Household |
|---|---|---|
| ACT | -$17.86 billion | -$8,619 |
| National | $5.11 billion | $2,467 |
| Labour | $34.23 billion | $16,521 |
| NZ First | $93.32 billion | $45,039 |
| Opportunity | $229.62 billion | $110,821 |
| Green Party | $272.31 billion | $131,425 |
| Te Pāti Māori | Too vague to cost overall | N/A |
Taxpayers’ Union Head of Policy James Ross said:
"Voting is open, and neither Opportunity nor New Zealand First have released a fiscal plan. Although maybe even no fiscal plan is better than the fantasy work the Greens released this week, with 89 cents in every dollar they promise to spend remaining unfunded."
"New Zealand First are going for the sprint finish, increasing their new spending total by 80 percent, or more than $20,000 per household, within the space of just seven days."
"Law, order, and defence deserve serious conversations. Tens of billions of uncosted, unfunded promises do not do these topics justice."
Weekly Bribe-O-Meter updates, including our Transparency Score Rankings, are available at www.taxpayers.org.nz/bribe_o_meter.
