“News that the Government ran a $9.4 billion deficit in the year to June, after forecasts as late as May predicted a deficit under $7 billion show how much trouble the Government’s books are in, and why taxpayers need ACT,” says ACT Leader David Seymour.
“Grant Robertson has increased spending by 30 per cent - that’s after accounting for population growth and inflation. Somehow, he’s managed to get worse results from nearly every public service in the process. The next Government will need an economic conscience, someone to stand up for the rights of the taxpayer, and that’s where ACT comes in.
“Government waste doesn’t just cost taxpayers directly. It drives inflation and interest rates too. Because the Government hasn’t tightened its belt, families and household are having to do the belt tightening for them. ACT says the next Government must bring relief by cutting wasteful spending.
“Financial pundits are already speculating the Official Cash Rate, and therefore mortgages, will need to rise again after the election if nothing changes. The impacts of continuing inflation and rising mortgage rates don’t bear thinking about for most households.
“If the Government doesn’t pull back its spending, then the pressure is left on consumers, mortgagees, and taxpayers alike. Only ACT has produced a fully costed alternative budget that would save $25.5 billion of Government waste in the first four years. These kinds of savings will be essential if the next Government is going to fix the economy and get living costs down from day one.
“Only a Party Vote for ACT is a Party Vote to fix the economy by getting wasteful spending under control and your living costs down from day one.”