The Taxpayers’ Union says Treasury’s latest PREFU shows just how little room there is for another spending blowout, even as parties on the left promise tens of billions of dollars in new spending.
Taxpayers’ Union spokesman James Ross said:
“After years of deficits, the books are finally crawling back towards the black. Even with higher tax revenue and lower spending than expected, the Government would still only reach a cash surplus in 2031."
“Labour’s answer is apparently to start spending again. Our Bribe-O-Meter has Labour’s promises at $24,358 per household, enough to make that surplus disappear several times over. And with house price growth weaker than Labour’s assumptions until 2029, its capital gains tax is hardly a bottomless ATM."
“The left spent years proving how quickly politicians can turn a surplus into a deficit. With the recovery still this fragile, voters deserve to know which parties have actually adjusted their plans to the books Treasury opened today.”
The Taxpayers’ Union’s Bribe-O-Meter is available at https://www.taxpayers.org.nz/bribe_o_meter
