Te Pāti Māori sends $1b power bill to next generation

"Te Pāti Māori has promised a $1 billion energy fund without identifying a dollar of savings to pay for it. Unless it can explain what it would cut, that means another billion dollars borrowed and another bill left for the next generation,” says ACT Energy and Resources spokesperson Simon Court.

“Treasury’s Budget forecast puts net core Crown debt at $192 billion, or around $35,000 for every New Zealander. Servicing that debt already costs taxpayers about $9 billion a year, more than police, courts and prisons combined.

“Against that backdrop, Te Pāti Māori wants a new fund handing out grants, cheap finance, guarantees and government equity without a plan to pay for it.

“New Zealand does need more affordable and reliable energy. The answer is to make it easier to build new generation, connect it to the grid and compete for customers – not borrow another billion dollars so politicians can pick who owns it.

“ACT has secured $14 billion in savings this term, but the Government has only slowed the debt problem, not stopped it. ACT’s job is to push the Government to go further and faster.

“Every dollar spent on interest is a dollar that cannot go to nurses, classrooms or police. ACT will cut waste and red tape, return the books to surplus and rebuild the buffer for the next crisis – with no new taxes.

“Te Pāti Māori is making promises today and sending the invoice to children still learning their times tables. ACT will cut waste, pay down debt and unlock New Zealand’s potential.”