Keeping our assets and building the economy

Under a Labour government, New Zealand will return to surplus in 2014/15 and clear debt in 10 years without selling our nation's assets, says Labour leader Phil Goff.

Phil Goff today released Labour's fiscal framework which shows Labour's plans are affordable, realistic and will make New Zealand richer in the long run because our assets will not be sold to foreign investors.

"This election is a clear choice.

"If you want to bluff your way through a three-year election cycle by selling our assets it is National.

"If you want to set New Zealand on an economically sustainable path for the next 20 years and keep our assets vote Labour.

"Labour will borrow more in the short-term to fund our schools and hospitals because we will never sell our assets. The extra borrowing in the first term of Labour government will be $15.6 billion which is $2.6 billion higher than a National government which would borrow $13 billion.

"Our borrowing peaks at $4 billion more than National, but from 2017/18 we will be paying back the debt faster than a National government would because of the on-going asset returns and the increasing revenue of our fairer tax package.

"This is a price we are willing to pay because our assets will keep delivering returns to our children and grandchildren.

"Labour's plan is realistic. We are phasing in over time our major policies to make them more affordable.

"Our plan will prepare New Zealand for the future. We will take the hard decisions for the future rather than trying to kid everyone that nothing needs to change.

"John Key refuses to confront reality and also wants to sell our assets to the Australians, the Chinese, the Germans and any other foreign investor with cash.

"Labour will keep the assets and pay back the debt so we are all richer," Phil Goff said.

• Fiscal_strategy_supplement.pdf
• Fiscal_strategy_document.pdf
• Fiscal_strategy_fact_sheet.pdf

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