Greens' plan shows what’s at stake this election: $39 billion more debt than ACT's

"The Green Party’s fiscal plan makes crystal clear what’s at stake: taxpayers face a choice between $12.4 billion less debt under ACT’s plan, or $26.6 billion more debt under the Greens’ plan. It is a choice between financial security or financial ruin," says ACT Leader David Seymour.

“The Greens' plan would send the bill to those too young to vote and not even born. By their own working, they’d swell net core Crown debt to $256.4 billion in 2030/31, or 44 per cent of GDP. That's $26.6 billion more than Treasury's forecast and $39 billion more than ACT's plan.

"The Greens would make government bigger than it was in the middle of the pandemic. Pandemic spending was an emergency. The Greens' fiscal plan is a permanent emergency for taxpayers.

"Taxpayers already pay $1.2 million every hour covering interest on the debt. The Greens seem to think that’s not enough.

"The Greens' plan is worse than the extra debt. Debt means more tax in the future, but they want more tax in the present, too. The Greens expect to raise $28.75 billion in new taxes over four years, but they don't allow for the deadweight loss of higher taxes: discouraging investment and growth. If taxing cigarettes discourages smoking then discouraging investment, rental housing and savings will discourage them, too. Less growth means less tax revenue and more debt than the Greens admit.

"Then there's the Greens’ pay equity fudge. The Greens promise to restore it, but budget just $4.5 billion over four years. That’s $8 billion short of Treasury’s estimates. Clearly, someone’s going to miss out. The Greens will do anything for women but actually fund their promises to women. They say the Coalition doesn’t care about women because we cancelled pay equity. We reject that thinking, but by their own logic, they don’t either.

"ACT's plan is different. We would reduce the size of government and cut waste to reach surplus earlier, with $12.4 billion less debt than Treasury's baseline by 2031.

"Chlöe Swarbrick is angling for the Finance portfolio. She is prepared to deliver financial ruin to the next generation.

“The stakes could not be higher. To lock the Greens out, we must lock Labour out. A Party Vote for ACT achieves that, while also helping the Coalition to go further and faster in paying down the debt."