National claims government accounts show big hole

by Chris Bramwell / 15 December, 2017

National's finance spokesperson Steven Joyce, left, and Finance Minister Grant Robertson. Photo / RNZ

National's Steven Joyce says the debt created by Labour's policies will only continue to grow.

National says the opening of the government books yesterday backs up its argument that Labour has a massive hole in its accounts.

Labour says the accounts show it can make good on its election promises, and on the deals struck with New Zealand First and the Greens.

The government said it would pay debt down more slowly and cancel National's tax cuts.

Finance Minister Grant Robertson said it was also committed to running sustainable surpluses across the economic cycle.

"But it does have the same caveat that every government has, that if there is a big major natural disaster then obviously we take that into account in terms of whether we can run a surplus or not."

National's finance spokesperson Steven Joyce said it was now clear just how incredibly tight it was going to be for the government over the next few years.

 

"With all the things they've promised that aren't in there, they've given themselves very little room and that's why they are arguing for about $350,000 over Kidscan and all this very small stuff, because it is so incredibly tight for them.

"So I think we'll see that continue to grow, they've got debt going to $70bn over the next three to four years."

Parliament went into urgency last night to push through the government's $5.5 billion families package.

The package includes an extension to Working for Families and a boost to the accommodation supplement, a payment for young babies, and a winter payment for superannuants and most beneficiaries.

Prime Minister Jacinda Ardern said the package meant more than 380,000 families would get on average $70 a week more.

"This is a package that means, by the time it's fully rolled out, we will have reduced child poverty in New Zealand by 48 percent."

The house will resume at 9am to continue debating the bill.

This article was originally published by RNZ.

Latest

How Sam Pillsbury went from filmmaker to vintner
106015 2019-05-19 00:00:00Z Profiles

How Sam Pillsbury went from filmmaker to vintner

by Sharon Stephenson

Filmmaker Sam Pillsbury was involved in some of New Zealand’s most iconic films before more lucrative directing opportunities lured him to LA.

Read more
NZ innovators are leading a wool revolution – is it time to get behind them?
105928 2019-05-19 00:00:00Z Business

NZ innovators are leading a wool revolution – is i…

by Bill Ralston

Wool is natural, renewable and biodegradable so it should be a great time for the New Zealand economy. Why, then, are farmers, designers and ...

Read more
Activists are beating wool producers to the punch in selling a story about fibre
105991 2019-05-19 00:00:00Z Business

Activists are beating wool producers to the punch…

by Joanne Black

Most of us would probably not say, “I’d rather go naked than wear wool”, but that was exactly the message that 18 months ago appeared on US billboards

Read more
Belief in conspiracy theories is far more common than you think
105587 2019-05-19 00:00:00Z Psychology

Belief in conspiracy theories is far more common t…

by Marc Wilson

Conspiracy belief is more common among people who are less trusting and experience more anomie – they worry that the world is losing it and...

Read more
Pulitzer Prize winner Jared Diamond on the need for nationhood
105738 2019-05-18 00:00:00Z History

Pulitzer Prize winner Jared Diamond on the need fo…

by Andrew Anthony

Jared Diamond’s new book about empowering national identity to respond to crises is bound to tip off yet another controversy, but...

Read more
Jared Diamond: Finland shows how nations can survive adversity and thrive
105744 2019-05-18 00:00:00Z History

Jared Diamond: Finland shows how nations can survi…

by Jared Diamond

Today, Finland is one of the world’s richest countries, but it’s had to fight for it, as this edited extract from historian Jared Diamond’s new...

Read more
Musician Warren Maxwell returns to his roots to connect Wairarapa Māori
105544 2019-05-18 00:00:00Z Music

Musician Warren Maxwell returns to his roots to co…

by Sarah Catherall

Trinity Roots frontman Warren Maxwell is laying down history, recording 25 waiata composed and sung by Wairarapa Māori.

Read more
George Clooney is the driving force behind a new adaptation of Catch-22
105911 2019-05-18 00:00:00Z Television

George Clooney is the driving force behind a new a…

by Fiona Rae

World War II-era Catch-22 swings from drama to comedy as John Yossarian slowly loses his mind.

Read more