The Taxpayers’ Union says Labour’s fiscal plan is not credible, with billions of dollars of new spending promises left unanswered for.
Taxpayers’ Union spokesperson Tory Relf said:
“Labour has around $33 billion of new spending commitments to pay for, but even on its own numbers the sums do not come close. Its capital gains tax supposedly raises $2.8 billion, reversing the heated tobacco tax changes $365 million, and scrapping Investment Boost another $7.7 billion."
“It doesn’t take an accountant to see those numbers don’t add up, but maybe the Labour Party would benefit from hiring a few."
“Since being called out on the $24,358-per-household cost of its plans to raise spending to 33 percent of GDP, Labour has backed away from them. And after getting caught out announcing more than $5.5 billion of uncosted foreign aid spending, that promise has failed to get a mention in its fiscal plan too. You can’t help but wonder what else Labour is hoping nobody notices."
“Now we are meant to believe Labour can wind back planned savings, restore pay equity, spend tens of billions more, balance the books and bring debt down at the same time. Who on Earth is this meant to fool?”
