Thursday, 27 April 2017, 2:20 pm Press Release: ACT New Zealand
Government debt targets ignore private debt
New public
debt targets should be balanced with tax cuts to address
private debt, says ACT Leader David Seymour.
“Public
debt remains relatively stable at just under $100 billion.
Meanwhile, private debt is set to breach $400 billion this
year. The IMF have already highlighted our private debt levels as a
risk to our economy.
“It’s important that the
government has a long-term plan to steadily pay down public
debt. But when private debt is more than four times worse,
the emphasis needs to be on returning government surpluses
to households and businesses. The most obvious way is
through tax cuts.
“ACT says that debt-laden New
Zealanders, such as those struggling to pay off mortgages,
deserve the right to pay off their own debt with the money
they’ve rightfully earned. That’s just one of many
reasons why ACT’s alternative Budget proposals will
emphasise substantial tax cuts for businesses and
individuals.”
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