Friday, 29 January 2021

Crown debt on the cusp of $100 billion


“Today’s announcement from the Treasury that core crown debt is on the cusp of $100 billion should worry future generations who have seen no steps taken to protect them from a growing and unsustainable debt mountain,” says ACT Leader David Seymour.

“If the Government was taking steps to trim and save in some areas, to offset the debt they’ve been taking on to cushion the blow of Covid-19 and attempt to spend their way out of it, that might provide some solace to future generations.

“Instead it’s been business as usual plus, as if money was free.

“These historic debt levels demand serious political leadership, but there is no sign the Government is willing to get on top of its spending.

“Every political party but ACT is in a race to spend more money, but every extra dollar the Government borrows today means higher taxes or fewer services for our kids and grandkids.

“Only ACT is offering an alternative path that will ensure New Zealand’s long term societal wellbeing and economic sustainability.”

ENDS