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Dear John, As a parent, you want the best future for your child. One of the most sobering numbers in New Zealand today is our $190 billion public debt. This is money our government owes to mostly foreign lenders. That is $93,000 for every Kiwi household and rising!
This is debt that our children and grandchildren will have to repay. My son, your kids, none of them signed up for this burden but they’ll inherit it unless we act.
New Zealand does have a lower public debt than many other countries. However, Treasury projections warn that if we don’t get this under control, our debt will likely reach 100% of GDP by 2050. This will be driven by the rising costs from our aging population.
This isn’t just my worry. Economists’ are concerned and the coalition government recognises we need to change course.
What does doing things differently look like?
It means looking seriously and continuously at ways to lower the public cost of delivering core public services such as healthcare, education, welfare and infrastructure. And it means growing New Zealand’s economy faster than it has grown before, so Kiwis can get ahead, debt can be repaid sooner, and we can support public services.
That’s why Prime Minister Chris Luxon is focused on going for growth.
Growth comes from hard work, sacrifice and persistence. It comes from choosing investment over consumption. From backing Kiwis who innovate, build, teach, and trade.
Growth means putting our money where it matters in education, health, law and order, infrastructure, and support for the most vulnerable. It means making the tough calls to cut waste in the public service and reprioritise towards what counts. It means staying the course even when it’s hard because the rewards are worth it.
New Zealand has all the ingredients for economic success. But we need to be bolder as a people and as a government. The timid and incremental change of the past won’t cut it. We need to unshackle ourselves from the economic mediocrity of the past few decades and unleash New Zealand’s full potential.
That’s why this year's Budget, announced later this month by Finance Minister Nicola Willis, will mark not just a reset but a resurgence. A smarter, sharper, more disciplined economic approach that empowers businesses, rewards effort and gives our young people something real to look forward to.
It’s clear about the challenges we face with sky-high debt, a structural deficit and the lingering pain of inflation and high interest rates. It's also clear on the solution to drive growth of business and not on government. We need to invest in what matters. Cut waste. Get back to basics.
Watch out for our growth budget on May 22 – I look forward to hearing your thoughts on it once it is announced!
Community NewsAbilities Group As you would be aware Abilities Group in Wairau valley suffered a devastating loss to their premises on Thursday 24th April . Abilities is a much-loved recycling charity that provides employment to over 100 disabled people. It has been incredibly heartwarming to see the outpouring of support from our local community. The team launched a fundraising campaign which will support staff, help replace essential equipment and find a new temporary location. They have been able to raise nearly $200,000 and they are close to securing a temporary premises where they can operate from. If you would like to donate you can at: https://givealittle.co.nz/org/abilities-group. Or get in touch with my office if you would like to help in other ways. Kaipātiki Project Thank you to Derek Craig who left Kaipātiki Project last Friday after 9 years of service. Derek has led the Nursery and Regenerative Environments team and has had a big impact on many in our community. His passion and dedication were always evident ! Thanks Derek and all the best for your new role with Saint Kentigern College. Upcoming Events - Get Involved!Crime Public Meeting - Monday 9 June 6pm
📍 Northcote Rugby Club, Recreation Drive, Birkenhead Join us at our Public Meeting with Police Minister Mark Mitchell - RSVP to [email protected].
Dan in the Community
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Dan Bidois MP for Northcote
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 41 Pipitea Street Authorised by Dan Bidois, Parliament Buildings, Wellington |
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