“National’s long-awaited fiscal plan confirms that ACT will be needed to change the Government and the direction of New Zealand. National’s plan alone amounts to kicking out Labour and keeping their direction,” says ACT Leader David Seymour.
“In any future ACT-National coalition, it will be ACT fighting hard for a change in direction. To cut wasteful spending and pay down debt faster than National proposes. The alternative is that the management changes, but the policies stay the same.
“National’s plan contains a central contradiction; criticism of Labour’s spending beside a commitment to continue it. Labour promises to cut Labour’s spending by $8.4 billion over four years, or $2.1 billion per year. To put that in perspective, it is promising to keep over 98 per cent of Labour’s spending.
“ACT, meanwhile, has proposed $25.5 billion of savings for taxpayers, just over three times National’s reductions. ACT’s plan would reduce Net Core Crown Debt by $6.8 billion in 2026/27, twice as much debt reduction as National.
“We note ACT’s plan does not adjust benefits for inflation. With that adjustment, we could reduce debt by a further $2 billion for $27.5 billion spending reduction, and an $8.8 billion dollar debt reduction.
“National’s plan effectively promises to reduce income taxes by collecting more from commercial landlords, foreign home buyers, and online gamblers. If these novel revenue sources don’t come through, it will be difficult to sustain tax cuts and balance a budget.
“ACT’s 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.
“The choices for voters at this election are whether to have change, and whether or not that change will be real. Voters wanting change could vote for ACT or National, but voters wanting real change must give their Party Vote to ACT.”