The Taxpayers’ Union is calling on political parties to reconsider costly election promises after 10-year Government bond yields climbed above five percent.
Taxpayers’ Union spokesman James Ross said:
“With bond yields now five times higher than they were five years ago, the era of cheap debt is over. Every extra billion dollars borrowed at five percent means $50 million a year in interest costs.”
“But the 2026 Bribe-O-Meter shows parties are still spending like money is free. The Greens are proposing $114,000 per household in new spending, Opportunity $97,000, Labour $24,000, and New Zealand First $22,000.”
“New Zealand is already borrowing to pay the bills. Piling billions more onto the national credit card when debt costs have surged is reckless. Parties need to go back through their pledges and decide what can be dropped, scaled back, or paid for with genuine savings elsewhere.”
The 2026 Bribe-O-Meter can be found at www.taxpayers.org.nz/bribe_o_meter
Soaring borrowing costs require election promise rethink
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