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ACT leader David Seymour says that according to his party’s debt destruction tool, Kiwis are “more fiscally responsible than [Finance Minister] Grant Robertson and we want to reduce public spending ”.
ACT leader David Seymour with Nicole McKee third on the party’s roster (left) and deputy leader Brooke van Velden. Source: 1 NEWS
The interactive tool allows people to choose the parts of public spending they would like to cut in order to start paying off their debts.
Options for reducing spending include stopping contributions to the Retirement Fund, ending KiwiSaver subsidies, and ending winter energy payments, all in line with ACT’s fiscal policy.
Seymour said Debt Destroyer puts kiwis in control of spending.
“Of the more than 1,300 respondents, 90 percent chose to save taxpayers money.
“On average, the amount saved was $ 65 billion in 10 years.”
He said the current government has borrowed about $ 140 billion so far, $ 28,000 for every New Zealander.
Earlier this week, Seymour announced that, if elected, ACT would return to debt levels of 35 percent of GDP in the next decade.
The party proposed a series of spending cuts, including abolishing the Government’s Provincial Growth Fund, the Billion Tree Program, and KiwiSaver subsidies.
ACT also wants to cut benefit increases to match pre-Covid-19 levels, abolish increases in Working For Families payments, and eliminate benefit changes, such as the Winter Energy Payment, in the Families Package.
On Thursday, Seymour said that Labor tax policy would be a burden on future generations.
“It is totally irresponsible to burden children with a mountain of debt when they have no voice on the issue,” he said.
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The party’s finance spokesman says that the September 9 announcement is the totality “of what they will be implementing. Source: Breakfast
He said ACT would borrow $ 76 billion less than Labor this decade if it were in government after the election.
Seymour also criticized National’s tax policy on Friday of providing tax breaks while promising large-scale infrastructure projects and other expenses, calling it “simply unrealistic.”
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Judith Collins said the cuts would allow average earners to pocket an additional $ 50 each week as the nation battles the Covid-19 pandemic. Source: 1 NEWS
Voters needed politicians to have “an honest conversation about debt,” Seymour said.
Meanwhile, Labor finance spokesman Grant Robertson on Friday called ACT’s fiscal policy a “radical austerity plan.”
“[It] it puts popular programs like KiwiSaver, Superannuation, Winter Energy Payment and Working for Families at risk, right at a time when people need certainty and continuity, ”said Robertson.
