Lower Taxes, Less Waste,
More Accountability

Championing Value For Money From Every Tax Dollar

Budget 2024: Debt interest costs soon to be higher than spending on primary schools, secondary schools and the Ministry of Justice combined

Budget 2024: Debt interest costs soon to be higher than spending on primary schools, secondary schools and the Ministry of Justice combined

The Taxpayers’ Union is slamming the projected explosion in Government debt over the next 4 years, which will see interest payments amounting to more than $4,622 for every household in the coming  financial year alone.

Taxpayers’ Union Campaigns Manager, Connor Molloy, said:

“Government debt ballooned by 161% under Grant Robertson. Forget cutting it back, Nicola Willis is pumping it even higher.

“Treasury forecast interest payments will amount to $9.2 billion ($4,622 per household) in the 2024/25 fiscal year. That’s the same as what the Government will spend on primary schools, secondary schools and the Ministry of Justice combined.

“Today was Nicola Willis’s opportunity to save our kids and grandkids from higher taxes and a sovereign debt recking ball.  Instead, she has continued the legacy of Grant Robertson. That’s now what Kiwis voted for.”


Showing 1 reaction

  • NZTU Media
    published this page in News 2024-05-30 16:19:32 +1200

Join Us

Joining the Taxpayers' Union costs only $25 and entitles you to attend our annual conference, AGM and other events.

Donate

With your support we can make the Taxpayers' Union a strong voice exposing waste and standing up for Kiwi taxpayers.

Tip Line

Often the best information comes from those inside the public service or local government. We guarantee your anonymity and your privacy.