Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Tax and spend Nats push up interest rates

Tax and spend Nats push up interest rates

National has changed its colours and become the real tax and spend party but is trying to hide the truth through suspect accounting, says Labour’s Finance spokesperson David Parker.

“John Key clearly enjoys testing the New Zealand public’s gullibility. Yesterday he claimed that new spending under National has risen by only $250 million each year under his Government.

“How does that explain the extra $3 billion he is spending a year on superannuation compared with five years ago as just one example?

“National is now spending 20 per cent more than the last Labour Government. Yet John Key has the gall to claim that a new Labour Government would lead to rising interest rates. The truth is Labour will run fiscal surpluses that will not put pressure on interest rates.

“Yesterday John Key said: ‘If a political party tells you they are going to spend a lot of money, ask them how much it is going to cost your mortgage’.

“Kiwis should ask John Key that very question. Interest rates are rising already and National can’t hide from that. John Key falsely claimed the credit for low interest rates during a global recession. He now has to take responsibility for rising rates.

“Higher interest rates are going to make it even harder for Kiwis to buy homes and push rents higher than they are. National knows this is an election issue and it is on the wrong side of it. That’s why the spin machine is going into overdrive.

“It’s time to National to be up front with Kiwis on their spending and answer John Key’s question – how much will it cost your mortgage?” says David Parker.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Minister of Finance: Plan Shows $100 Billion Infrastructure Projects

Finance Minister Bill English has today launched the Government’s Ten Year Capital Intentions Plan (CIP) which shows a pipeline of $100.9 billion worth of infrastructure projects over the next decade. More>>


Werewolf: Safe Landings Gordon Campbell on the safety challenge to the Wellington runway extension.

The safety-related legal challenge revolves around the size of the 90 metre long Runway End Safety Area (RESA) being proposed for the runway extension. More>>


Environment Commissioner: We Need To Work Together On Climate Change And Farming

“The debate around agricultural emissions and the ETS has been polarised for too long,” said the Commissioner. “But the ETS is not the only way forward – there are other things that can be done.” More>>


NZ Super Fund: Seeking To Put A Market Price On Climate Change

Oct. 19 (BusinessDesk) - The New Zealand Superannuation Fund says it will devise a set of rules to assess investment winners and losers under climate change, a strategy that could rule out fossil fuels or producers such as current portfolio member Exxon ... More>>


Rejuvenation: Parata Will Not Contest 2017 Election

Education Minister and National List MP Hekia Parata has today announced that she will not be contesting the next election. She advised the Prime Minister of her decision earlier this year. More>>

Prisons Grow: Government Approves Plans For Increased Prison Capacity

Despite significant progress in reducing crime the number of prisoners has increased faster than projected. This is because the proportion of offenders charged with serious crimes has risen, meaning more people are being remanded in custody and serving more of their sentences in prison. More>>


Gordon Campbell: On Plastic Bag Activism, And Street Harassment

Amusing to see the Act Party experiencing another outbreak of young fogey-ism. What has aroused the ire of Act Leader David Seymour this time is the introduction of a Greens private members bill to the ballot process, calling for a 15 cents levy on plastic bags to reduce pollution. More>>


Unclear Weapons: US Navy Ship Cleared To Visit NZ For Navy's 75th

United States Navy ship, the USS Sampson, has been given clearance to visit New Zealand next month by Prime Minister John Key... “The process for considering the visit by the USS Sampson is the same as that used for all ships attending the International Naval Review." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news