Budget 2023: Fiscal Vandalism

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Fri May 19 2023 12:00:00 GMT+1200 (New Zealand Standard Time)

Budget 2023: Fiscal Vandalism

Friday, 19 May 2023, 4:45 pm
Press Release: New Zealand National Party

Labour’s Budget spends an eye-watering amount, yet achieves nothing for most New Zealanders, National’s Finance spokesperson Nicola Willis says.

“In Budget 2023, Grant Robertson has taken his spending up to $137 billion – $61 billion more since Labour came to office, and equivalent to $28,000 more in spending every year for every Kiwi family.

“But New Zealanders will rightfully be asking themselves: have we got $28,000 worth of value from this spending? The answer is clearly no.

“The cost-of-living crisis continues to rage on, interest rates are through the roof, hospital waiting lists are longer, and educational achievement is going backwards.

“According to Treasury, Labour’s addiction to spending will cause interest rates to remain higher for longer. Grant Robertson’s economic mismanagement means Kiwis are on the hook for thousands of dollars a year in higher mortgage payments for years to come.

“The Budget should have delivered meaningful tax relief for New Zealanders – but it didn’t.

“Labour are spending on poorly thought-out economic Band Aids - but still haven’t done anything to address the drivers of skyrocketing mortgage costs and inflation. In fact, this Budget just added to them.

“National will fix the economy by stopping wasteful spending and providing tax relief. A strong economy and disciplined government spending will lift incomes, deal with the cost-of-living crisis, and allow us to afford the public services Kiwis deserve.”

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