MEDIA RELEASE

No excuse for an election-year deficit -Taxpayers’ Union

11 DECEMBER 2019
FOR IMMEDIATE RELEASE

Responding to the Minister of Finance’s Half Year Economic and Fiscal Update, which includes a $900 million deficit for the next financial year, New Zealand Taxpayers’ Union spokesman Louis Houlbrooke says:
 
“At at time of high commodity prices and a record-high tax take, there is no excuse for the Government to run up a deficit, even a temporary one.”

“Conspicuously choosing an election year to dip into the red suggests the focus of this spending will be on winning votes, rather than addressing genuine needs. Some New Zealanders – perhaps in politically significant electorates – will benefit, but the typical taxpayer who funds this election year spend-up can be forgiven for a nervous gulp.”

ENDS

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