Dear Friend,

It’s Not Nicola Willis here. I’m emailing to tell you about a brand new start-up confectionery company I’ve just launched!

Today I – along with my very good friends at the Taxpayers’ Union – are delighted to announce Nicola’s Fudge™.

While Labour’s Jacinda Ardern, Chris Hipkins, and Grant Robertson blew the books, I was elected on a platform to tackle their ‘addiction to spending’, trim the bloated bureaucracy, stop the borrowing, and get back to growth.

And, as the polls are showing, I fudged it!

Instead of cutting Government spending, I’ve grown it!

I’ve tackled Labour’s 33% increase in bureaucrats by cutting it by less than 1%!

I’m borrowing more per day now than Grant Robertson was before I took over!

My ‘path to surplus’ depends on my new – totally original recipe – “OBEGALx” measure. Under the traditional measure, Treasury forecast that I’ll never get back into surplus.

And as for economic growth – I’ve delivered GDP per capita that is lower now than when the last lot were in charge.

So today, I’m making it official.

🎉 Introducing Nicola’s Fudge

Last month, Christopher Luxon attacked Labour’s “sugar-rush economics”. But I’ve been reaching for the very same lolly jar — upping spending, blowing out borrowing, and glazing over the inconvenient truths.

THE FLAVOURS OF FISCAL REALITY

Bigger than Grant

Claims of spending “cuts” are exaggerated. Spending has grown, not shrunk, since Grant Robertson.

Bureaucrat Brittle

Promise: Cut back-office staff
‍Reality: Still 33% more bureaucrats than when Labour first took office.

OBEGALx Original

Heroic assumptions, hidden liabilities: Nicola's surplus by 2029 is a fiction based on an invented measure that excludes ACC liabilities.

Debt Delight

Despite Nicola’s promises, borrowing is still near Grant Robertson-era levels.

Bond Market Bonanza

Nicola is borrowing so much, bond markets rank our risk just behind the UK, a major warning sign.

Crumble

Back on track? Per capita GDP is down $3,110 since 2023.

A Sweet Christmas Gift - With a Serious Message

Nicola’s Fudge is a bit of fun – but the issue isn’t. New Zealand cannot afford the “sugar-rush economics” of more spending, more debt, and more bureaucrats.

Yet that’s exactly what we’ve been served

Sometimes the best way to tell the truth is to stop letting politicians sweeten it.

That’s what this fudge is for.

Find out more and make your order now @ www.NicolasFudge.nz

Sweet (but fiscally responsible) regards,

(on behalf of the Taxpayers’ Union).

PS. You can read more about Nicola’s Fudge in this media release by the Taxpayers’ Union. You can also send a message to the real Nicola Willis at www.NicolasFudge.nz

Authorised by the New Zealand Taxpayers' Union, Level 4, 117 Lambton Quay, Wellington 6011.

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