As the Taxpayers’ Union tours the country on its Hīkoi
to Balance the Budget, the Government will hit a nasty
fiscal milestone with Net Core Crown Debt passing the $190
billion mark at 8:53PM this
evening.
Commenting on the financial milestone,
Taxpayers’ Union spokesman James Ross said:
“Nicola
Willis is borrowing nearly $48 million per day to fund her
deficit spending. Tonight the total net borrowing ticks over
to $190 billion. That’s $93,381 debt for every New Zealand
household.”
“Government debt robs our
kids and grandkids. Not only has high borrowing in recent
years driven up the costs of living, the interest payable
means less money for quality public services in the years to
come.”
“Nicola Willis likes to blame
the previous government for sky high spending and the debt
hangover. But she’s spending even more than Grant Robertson,
and continues to put much of that on the national credit
card.”
“This month’s Budget needs to cut wasteful
spending, and ‘Stop the Clock’.”
The figures used for
the National Debt Clock at DebtClock.nz
are based on Treasury’s Half
Year Economic and Fiscal Update 2024: Net Core Crown
Debt.
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