Labour’s Fiscal Plan Doubles Down on More Spending, High Taxes and Runaway Debt

Responding to the Labour Party’s Fiscal Plan, Taxpayers’ Union Head of Campaigns, Callum Purves, said:

“Labour’s current economic plan of overtaxing hard-working New Zealanders just to waste money on middle-managers, consultants and vanity projects clearly isn’t working. With the highest level of Government spending we have ever had, Labour is robbing our children by racking up billions upon billions more in debt every year.

“In its latest fiscal plan, Labour has doubled down on its high tax, high borrowing, and high spending model. When Treasury noted only two weeks ago that a razor-thin increase in borrowing would see New Zealand unable to return to surplus within the forecast period, for Labour not to announce significant cuts to Government waste is deeply irresponsible.

“When asked how Labour planned to deal with any large unexpected costs, as expected Robertson’s reply was “through the balance sheet.” In other words, Labour is already planning to borrow more to make ends meet. With every household’s share of this debt now at nearly $82,000 and rising fast, New Zealand can’t afford more of the same.

“Wasting billions on a GST policy that economists almost universally call inefficient and ineffective is bull-headed to the extreme. New Zealanders deserve sound, properly-costed policies and unfortunately that is not what they’re getting with this GST fiasco. The Taxpayers’ Union is once again calling to establish an independent electoral policy costing body so Kiwis can make informed choices at the ballot box.”