Every month it is the same story; the cost-of-living crisis is hurting New Zealanders every day, yet this Labour Government is refusing to help and unfortunately, is making it worse with their addiction to spending.
National will stop wasteful spending, provide tax relief and deliver the skills, infrastructure and innovation New Zealand needs to thrive.
A strong economy will let us deal with the cost-of-living crisis, lift incomes and afford the public services Kiwis deserve. That’s a different direction to Labour which, in last week’s Budget, showed how the Government’s economic mismanagement continues to hurt New Zealanders.
Labour is continuing to borrow and spend excessively. Labour is now spending a staggering $137 billion a year. That’s up from $76 billion in 2017.
In 2017, net debt was $16 billion. This year it’s $71 billion. And in 2026, it’ll be $95 billion. This debt must be paid back, and the interest alone is $22 million every day.
As a result of Labour’s spending, inflation and interest rates will stay higher for longer, meaning no reprieve for Kiwis at the supermarket, at the petrol pump and in their mortgages.
Retired people on fixed incomes are particularly affected by inflation.
If you’re a senior who is renting, National will help by restoring interest deductibility for rental properties and reduce the Brightline test – which have both added costs to renters.
National will also keep the winter energy payment and raise Superannuation annually, in line with the average after tax wages.
The Budget was an opportunity for Labour to give hardworking New Zealanders some tax relief, rein in government spending and outline their plan to grow the economy.
They failed and New Zealanders are paying the price. National will get the economy going and get New Zealand back on track.