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

 


Greens to produce bigger surpluses and repay debt sooner

Greens to produce bigger surpluses and repay debt sooner than National


The Green Party has released its full fiscal costings for their 2014 election priorities which show they will deliver larger surpluses and pay down debt sooner than National.

The Party’s full costings have been analysed by independent research company Infometrics.

Infometrics have found that not only will the Green Party run bigger surpluses than National, it will do this while also taking significant steps to advance their election priorities: reducing child poverty, making rivers and lakes safe enough to swim in again, and creating a smarter, greener economy.

The key points in the Green Party's fiscal plan are:

1. Run surpluses $2.2 billion larger than National by 2017/18;

2. Gross Government Debt will be $6.6 billion dollars lower than National by 2017/18;

3. Investing $3.8 billion over the next three years to maintain real levels of spending in health, education, and environmental protection to reverse National’s major cuts to these areas;

4. Use new savings and revenues to address growing inequality and lift hundreds of thousands of children out of poverty by 2017 with a $3.4 billion package of new social policies;

5. Use new savings and revenues to make rivers and lakes clean enough to swim in again with a $218 million package of new environment policies;

6. Use new savings and revenues to invest $1.4 billion into kick-starting the transition to a smarter greener innovation economy;

7. Deliver modest income tax cuts to 97 percent of all New Zealand taxpayers through a climate tax cut, by making the first $2,000 of income tax free;

8. Cut the company tax rate from 28 percent to 27 percent;

9. Increase the top marginal income tax rate to 40 percent for all income over $140,000, with a matching increase in the trust tax rate;

10. A further $2 billion worth of initiatives over three years to be announced before September 20.

“We have produced a fiscally responsible plan that will build a smarter greener economy that really works for all New Zealanders,” said Green Party Co-leader Dr Russel Norman.

“The Green Party will run bigger surpluses than National and Labour, enabling us to pay down debt faster while increasing spending in pressing priority areas.

“We are being responsible. We plan to restrain spending below the PREFU operating allowance for additional spending while also raising some new revenues.

“As a result of our fiscal prudence, we will return to surplus more strongly than National.

“A Green Government is committed to living within our means — running surpluses and paying down debt — but we will also ensure that the government works to clean up our environment, alleviate child poverty, and drive the transition to a smarter, greener economy.

“The Green Party budget will be more fiscally robust than National’s, but it will also be more responsible by lifting investment in our people and our environment and not leaving New Zealand with a commodities-based economy.

“National’s three-year Budget projections include $3.8 billion of real cuts to health, education and environmental protection. In Government, the Green Party will reverse National’s cuts and maintain real levels of funding to these sectors to protect against inflation and ensure vital services are not undermined.

“By raising additional revenue, we have the space to make crucial investments in our economy.

“Our $3.4 billion investment in social spending will deliver free health care for all children up to 18, 20 hours free ECE for two-year-olds, insulate 200,000 homes, and will significantly reduce the number of children growing up in poverty in New Zealand.

“Our reprioritisation of spending within the National Land Transport Fund will lead to a sustainable transport transformation with a focus on trains, buses, walking and cycling ahead of expensive uneconomic new motorways. At the same time we will increase regional transport funding by 50 percent after years of neglect by National.

“We will also fund free off-peak public transport for all students and apprentices through savings in the National Land Transport Fund.

“Our $218 million investment in our environment will ensure our rivers are clean enough to swim in again.

“Our plan to build a smarter, more innovative economy has as its centrepiece an additional $1.4 billion of government investment in R&D and the establishment of the Green Investment Bank.

“The Green Party is the only major party going into this election offering 97 percent of New Zealand households and all businesses a tax cut.

“Three more years of National will see $3.8 billion of spending cuts to health, education and environment spending. National’s cuts will be felt strongly by our kids, the sick, and our rivers.

“This is the first time the Green Party has produced a fully costed and independently audited budget. It shows that we are ready to govern in a fiscally responsible way to build a smarter greener economy that works for all New Zealanders and our environment.”


Link to the Green Party fiscals paper, as well as the Infometrics and BERL reports: https://www.greens.org.nz/policy/smarter-economy/fiscals


ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

IGIS: Report On Release Of NZSIS Information To Cameron Slater

The Inspector-General of Intelligence and Security, Cheryl Gwyn, published her report on the inquiry into the release of NZSIS information to Mr Cameron Slater at a press conference in Wellington today...

The inquiry found the NZSIS released incomplete, inaccurate and misleading information in response to Mr Slater’s request, and provided some of the same incorrect information to the Prime Minister and the Prime Minister’s Office.

“These errors resulted in misplaced criticism of the then Leader of the Opposition, Hon Phil Goff MP. Mr Goff is owed a formal apology by the Service,” said Ms Gwyn. More>>

 
 

Parliament Today:

"New Faces, Wise Heads": Andrew Little Announces New Labour Line Up

Labour Leader Andrew Little today announced a bold new caucus line up which brings forward new talent and draws on the party’s depth of experience. More>>

ALSO:

Gordon Campbell: On Rick Ellis As Te Papa’s New CEO

The recent appointment of former TVNZ boss Rick Ellis to head Te Papa has copped a fair bit of criticism. Much of it has been inspired by the suspicion that Ellis has been hired to pursue the same purely commercial goals as he did at TVNZ, while similarly neglecting the serious cultural side of his mandate. More>>

Passport Cancellation, Surveillance: Draft 'Foreign Fighters Legislation' Released

The final draft of the Countering Terrorist Fighters Legislation Bill contains proposals previously announced by Mr Key in a major national security speech earlier this month. More>>

ALSO:

Related

Joint Statement: Establishment Of NZ-China Strategic Partnership

At the invitation of Governor-General Lt Gen The Rt Hon Sir Jerry Mateparae and Prime Minister The Rt Hon John Key of New Zealand, President Xi Jinping of the People’s Republic of China made a state visit to New Zealand from 19 to 21 November 2014... More>>

ALSO:

Savings Targets: Health Procurement Plan Changes Direction

Next steps in implementing DHB shared services programme Health Minister Jonathan Coleman says the Government has agreed to explore a proposal put forward by DHBs to move implementation of the shared services programme to a DHB-owned vehicle. More>>

ALSO:

More on Health Policy:

Auckland Unification: 'No IT Cost Blowout' (Just More Expensive)

Following discussion of an update on Auckland Council’s Information Services Transformational Programme at today’s Finance and Performance Committee, council has released the report publicly. More>>

ALSO:

Other Expensive Things:

Gordon Campbell: On The SAS Role Against Islamic State, And Podemos

Only 25% of the US bombing runs are even managing to locate IS targets worth bombing. As the NYT explains at length, this underlines the need for better on-the-ground intelligence to direct the air campaign to where the bad guys have holed up... More>>

ALSO:

Public Service: Commission Calls For Answers On Handling Of CERA Harassment

EEO Commissioner Dr Jackie Blue is deeply concerned about the way in which the State Services Commission has handled sexual allegations made against CERA chief executive Roger Sutton this week and is calling for answers. More>>

ALSO:

Gordon Campbell:
On Andrew Little’s Victory

So Andrew Little has won the leadership – by the narrowest possible margin – from Grant Robertson, and has already been depicted by commentators as being simultaneously (a) the creature of the trade unions and (b) the most centrist of the four candidates, which would be an interesting trick to see someone try in a game of Twister. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news