Promises are hollow if you can’t pay for them

“Another day, another expensive promise from Chris Hipkins with no explanation of how he intends to pay for it,” says ACT Leader David Seymour.

“Last night Hipkins again promised to restore Labour’s pay equity regime. He can’t pay for it, so why is he bothering?

“Treasury has estimated reinstating the former regime would cost $10.9 billion over four years, meanwhile even the unions think it could be up to $13 billion. Hipkins has repeatedly made promises to restore it while repeatedly being unable to say how they’ll pay for them.

“It’s chilling that a political leader can make a commitment involving billions of dollars without saying what spending he will cut, what tax he will raise, or how much more he intends to borrow.

"Even before adding new promises, taxpayers are paying $24.8 million every day servicing the interest on Crown debt. Every dollar spent on interest is a dollar that cannot be used for hospitals, schools, infrastructure, or reducing taxes.

“Today’s PREFU will open the Government books again and provide an updated picture of the fiscal challenge facing New Zealand. What it will show is that Kiwis cannot afford future governments that spend without thinking about the consequences.

"But the challenge is bigger than locking Labour out. In order to unlock New Zealand’s potential, we must keep finding savings year after year by forming a government that is smaller, more efficient, and capable of balancing the books.

"If we want New Zealand to be the best little country in the world, we need a smaller, more efficient government that focuses every dollar on results. That is how we make life more affordable, rebuild trust in public services, and unlock New Zealand’s potential."