“We need more hope rather than more of the same. Labour's fiscal plan won't admit a mistake and carries on with the wasteful spending that has made life so tough for Kiwis. They have confirmed that ACT is the only party with a credible plan to fix the economy by ending wasteful spending,” says ACT Leader David Seymour.
“Vague promises of fiscal responsibility, while New Zealanders pay $18 million in interest on the government debt every single day, show voters a lack of respect.
“This election should not be about who gets what handout and how big it is. It’s about ending the waste and fixing the economy. It’s about setting New Zealand on a path to prosperity, with a strong economy that will serve generations to come.
“Labour’s management of the economy has brought about higher interest rates, higher prices, and less ambition for Kiwis that they can get ahead in life. PREFU showed that spending by 2026 will be $11 billion higher than forecast just last year. That leads to far more borrowing than anticipated. Net debt is forecast to reach $100 billion by 2025. They’ve given up on New Zealand and New Zealanders need to give up on them.
“Hipkins telling Kiwis that he’s proud of Grant Robertson’s economic management shows that he has no intention to turn things around.
“Real change starts with serious reductions in Labour’s spending. ACT is the only party that has set out how to meaningfully cut Labour’s spending.
“By cutting corporate and middle-class welfare and reducing the size of the public service we can cut $25.5 billion in spending over four years. This means we can afford to make essential investments like boosting GP capitation grants, paying good teachers more, increasing prison capacity, increasing defence spending, and sharing GST with councils to build infrastructure.
“ACT would destroy the debt Labour has saddled us with, forecast to reach $100 billion by 2025. Under ACT’s Alternative Budget, net core Crown debt would be lower that Labour’s path every year. Operating deficits in 2023/24, 2024/25 and 2025/26 are smaller, and the surplus in 2026/27 is larger.
“ACT would create a flatter, more competitive tax system. We would attack wasteful government spending by shrinking the bureaucracy and cutting corporate and middle-class welfare.
“ACT is proposing the next Government puts productivity at the heart of everything, we’re explicitly focussed on New Zealand’s economic growth. Any Government ACT is part of will publicly state its objective for New Zealand to be in the top 10 fastest growing economies in the OECD, as measured by real GDP per capita growth.
“That would create a culture where work, savings and investment are rewarded, raise productivity and wages, and make the government’s books sustainable.
“ACT’s Alternative Budget is the most realistic and responsible economic plan being proposed. It’s not about who gets what and how much, it’s about setting New Zealand back on a path to prosperity, with a strong economy that will serve generations to come.
“Political leaders have a responsibility to tell taxpayers on this side of the election how they plan to start showing them some respect after 14 October. Given the disastrous state of the books, vague promises of fiscal discipline aren’t enough.
“The next Government can deal with the hard issues, or it can carry on pretending they don’t exist. Successive governments have ignored problems and taken the easy road and New Zealanders are paying the price. Labour’s approach is just continuing the decline away from first world status.
“ACT is the only party willing to tell the truth about the state of our economy and our country. Only ACT has the courage to make the tough decisions required for real change. New Zealanders face a choice: more of the same, or real change. The choice is ours.”