Tuesday, 28 July 2020

Labour leaving another decade of deficits

“Just as Helen Clark’s government did, Labour’s out-of-control spending has left New Zealanders with a decade of deficits,” says ACT Leader David Seymour.

“The burden of debt this Government is leaving for future generations is akin to fiscal child abuse.

“Today in Parliament, Grant Robertson claimed it will take at least eight years for the Government to get back to surplus and begin repaying the debt.

“When today’s kids start working, they’ll be paying $18.3 billion a year in tax just to cover the interest on the debt.

“That’s more than everything we spend on education. It’s more than we spend on welfare and law and order combined.

“The Government has undertaken to borrow and spend an extra $28,000 per person.

“We need to stop the out-of-control spending and consider the burden we’re leaving for our kids and grandkids

“Only ACT has a fully costed plan to get back to surplus and start repaying the debt now.”