IMF right to call for slashing government waste

Responding to the latest comments by the International Monetary Fund (IMF) on the state of the New Zealand economy, Taxpayers’ Union Policy and Public Affairs Manager, James Ross, said:

“The IMF has rightly criticised wasteful government spending in New Zealand. Like with the last Government, they’ve cautioned this one about chucking good money after bad on policies which don’t deliver.

“The IMF is also right to warn the Government against funding tax cuts through borrowing. With Kiwis being up to their necks in almost $90,000 of Government debt per household, the Taxpayers’ Union’s New Zealand Government debt clock keeps ticking up.

“With New Zealand in recession, the Government needs to make boosting productivity its priority. That can only happen by cutting red tape and delivering tax relief, but this should be funded by slashing the bloated bureaucracy and not by lumbering Kiwis with even more debt.”

See the Debt Clock at: http://debtclock.nz