John --
Today, the Treasury released the Half Year Economic and Fiscal Update. Here’s what Labour’s chaotic Coalition Government have delivered for New Zealand:
- Economic growth forecasts slashed.
- Budget deficit forecast for 2020.
- Broken their promise to run surpluses every year.
- Over $20 billion more in debt over the next 4 years.
- Broken their promise to get debt under 20% of GDP by 2020.
- A further $15 billion increase in ‘off the balance sheet’ debt over the next 5 years.
- Broken their own Budget Responsibility Rules.
The Government has turned the strong growth and huge surpluses it inherited from National, into deficits, weak growth and more debt in just two years.
Labour wouldn’t need to break their debt promise if they had not wasted billions of taxpayer money on failed experimental policies like KiwiBuild, Fees Free or the Provincial Growth Fund.
A National Government would restore confidence and revive our economy by getting on with infrastructure, by making it easier for businesses, large and small, to succeed and by being disciplined and effective in Government.
In less than a year, the 2020 Election will shape the next 3 years of New Zealand’s future. If you want a strong National-led Government making those decisions, we need to give it everything we’ve got.
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After spending its first two years deliberately stopping planned transport infrastructure that was ready to go, it’s a relief the Government has finally woken up to the need to get on with things. We, however, have little confidence it will deliver anything next year either.
Chip into our Fighting Fund and help us make Labour’s chaotic Coalition a one-term government.
John, I hope I can count on your support.
Regards
Paul Goldsmith
Finance Spokesperson
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