“National wants debt of 30 percent of GDP by 2030, but ACT says New Zealand needs an accountable goal: start repaying the debt next term,” says ACT Leader David Seymour.
“Anyone can make promises for 2030. That’s three elections away. ACT is campaigning for fiscal accountability before the next election. You cannot claim to be fiscally responsible while campaigning to run deficits for the next three years.
“At budget time, Treasury forecast a $4.9 billion deficit for 2023/24. ACT says we must stop the spending splurge immediately.
“The next government must balance the budget in the next term, and ACT’s 5-point plan to deal with the debt and restart economic growth shows how.
“ACT’s 5-point plan was the original plan, and the only one so far with detailed costings.
“Setting a goal for 2030 is easy, but a goal is not a strategy. ACT provides the thinking and the honesty to get us to a balanced budget by the 2023/24 financial year, when the next election occurs.”