‘We’re going to need a bigger debt clock’ – no plan for tackling runaway debt

Commenting on Budget 2025’s failure to restrain New Zealand’s runaway Government debt, Taxpayers’ Union Spokesman James Ross said:

“Debt is increasing every single year over the forecast period in Budget 2025, reaching $108,700 per household by 2029. That’s $2,000 more than the last forecasts issued just five months ago.”

“Grant Robertson’s last Budget had debt peak at 39.3 percent of the economy – Nicola Willis will now see it reach 46.0 percent. This is in the danger zone for a small trade-exposed country like New Zealand.”

“A Government preaching responsibility is lumbering each household with $5,776 per year in interest costs by 2027. That’s more than the budgets for primary schools, secondary schools, and the police combined.”

“Nicola Willis was elected with the promise of fixing the country’s finances, but what she’s delivered today is a promise to keep robbing our kids and grandkids.”