ACT Shouldn’t Shy Away From Interest On Student Loans

act-new-zealand

Tue Sep 29 2020 13:00:00 GMT+1300 (New Zealand Daylight Time)

ACT Shouldn’t Shy Away From Interest On Student Loans

Tuesday, 29 September 2020, 4:56 pm
Press Release: ACT New Zealand

Responding to ACT dropping its election policy of charging interest on student loans, the Taxpayers’ Union is slamming the decision as ‘pusillanimous’.

Union spokesman Jordan Williams says, “In 2016 David Seymour called interest-free student loans a ‘cynical bribe’. We agree – this policy was all about getting Helen Clark’s Government re-elected in 2005.”

“Now ACT, who are supposed to be the fiscal realists, are shunning taxpayer-friendly election policy.”

“Forcing taxpayers to pay loan interest for university graduates is a massive transfer of wealth to the upper class. It shifts money from today’s working class, to tomorrow’s rich. It also encourages students to select qualifications in fields that don’t require any more graduates.”

“With ACT’s polling it has a real chance to put the kibosh on wasteful legacy spending policies. Interest-free student loans should be high on the list.”

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