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The Labor Finance Minister has faced a $ 140 billion typo in the party’s fiscal policy, released today.
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After taking some observations from National, Robertson said that his numbers “squared” and that the graph was then corrected. Source: 1 NEWS
The Labor economic plan, released today, showed the wrong unit used on the axis of a graph with debt projections for 2025-26.
The graph should have shown a percentage, but instead used a dollar figure, indicating that the plan showed around $ 56 billion of debt in the 2025-26 period when it actually projects to be at least $ 200 billion. .
A second version, shipped less than an hour later, of the plan showed a corrected graphic.
Grant Robertson confronted the media today denying that the mistake affected the economic credibility of Labor.
The first axis published in the graph showed figures in dollars. Source: Supplied
“We have a typographical error on the axis of a graph. Our numbers add up, ”he said.
“Our budget is balanced, the national one does not,” said Robertson.
Judith Collins laughed during the campaign when she learned of the mistake.
“Oh really?” she said.
When asked if he had read the pamphlet the Labor Party published on the plan, Collins said he had not “but they told me they have a brochure, which is seven pages and half are pictures, so I would call it the children’s brochure ”.
The second corrected chart showed the percentage figure. Source: Supplied
“I’m sure it will take about three minutes if it’s the kid’s version,” she laughed.
Robertson said the Labor plan was “responsible, balanced and budgeted.”
“It ensures that enough money is set aside to handle cost pressures on essential services such as health and education, while maintaining the debt reduction path already set out in the Pre-Election Fiscal and Economic Update (PREFU),” Robertson said today.
“New Zealand, along with the rest of the world, is facing a 1 in 100 year shock due to the impacts of Covid-19. The Labor plan balances the need to keep debt under control while ensuring that services like health and education are protected from cuts.
“The Labor tax plan takes into account policies already announced during the election campaign and sets aside funds for contingencies and policies that have not yet been announced.
As already announced, the extension of the Small Business Cash Flow Loan Program and the promise to reintroduce the Training Incentive Allowance will be funded from the COVID Fund due to the importance of these policies for the recovery from Covid- 19. The plan leaves $ 12.1 billion protected in the Covid Fund, ”said Robertson.
