Saturday, 5 September 2020

Why is Labour hiding its tax plan?

“6 weeks from Election Day, and just a month out from early voting, New Zealanders have no clue what Labour’s plan is for repaying the debt,” says ACT Leader David Seymour.

“In 2017, Labour announced its tax and spending policies 66 days out from the election.

“This time around, we’ve heard nothing about how Labour intends to repay the debt. Will it hike tax on high income earners? Will it cut low-quality spending? Voters have a right to know.

“There are murmurs Labour will release its fiscal plan in the next week or so. If so, it’s giving New Zealanders half the time it did in 2017.

“It appears Labour has no idea how it will begin to tackle the mountain of debt it has created.

“The alternative is this: Labour is planning to raise taxes, but is deliberately giving voters as little time as possible to mull it over.

“Jacinda Ardern has labelled this a Covid-19 election campaign in which there will be few new policies. That may be her preference, but voters deserve an honest conversation about the debt.

“Labour, helped by New Zealand First and the Greens, has borrowed $140 billion. That’s $28,000 for each and every New Zealander. It’s the average credit card debt five times over.

“Every extra dollar government spends to support the economy will have to be taxed later.

“It’s the kids currently at intermediate who’ll lose. They’ll pay higher taxes for fewer services tomorrow because of politicians’ irresponsibility today. Borrowing now and forgetting tomorrow is fiscal child abuse.

“When businesses and households tighten their belts, so should politicians. We need an honest conversation about our spending and debt problem.

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

“A Party Vote for ACT is a vote to look to the future and confront our challenges as a country.”