Tick Tock: Net core crown debt will hit $190 billion tonight. Now more than $93k per household

As the Taxpayers' Union tours the country on its Hīkoi to Balance the Budget, the Government will hit a nasty fiscal milestone with Net Core Crown Debt passing the $190 billion mark at 8:53PM this evening.

Commenting on the financial milestone, Taxpayers' Union spokesman James Ross said:

"Nicola Willis is borrowing nearly $48 million per day to fund her deficit spending. Tonight the total net borrowing ticks over to $190 billion. That's $93,381 debt for every New Zealand household."

"Government debt robs our kids and grandkids. Not only has high borrowing in recent years driven up the costs of living, the interest payable means less money for quality public services in the years to come."

"Nicola Willis likes to blame the previous government for sky high spending and the debt hangover. But she's spending even more than Grant Robertson, and continues to put much of that on the national credit card."

"This month's Budget needs to cut wasteful spending, and 'Stop the Clock'."

The figures used for the National Debt Clock at DebtClock.nz are based on Treasury's Half Year Economic and Fiscal Update 2024: Net Core Crown Debt.