Labour Party costing's set a good benchmark for other
parties to follow
20 JULY 2017
FOR IMMEDIATE RELEASE
Putting aside the merits of the policies, the Taxpayers’ Union welcomes Labour's transparency and the detail contained in its ‘Alternative Budget’ and hopes other parties will follow suit.
Mac Mckenna, an economist at the Taxpayers’ Union, says, “We have often criticised political parties for not detailing the costs of their manifestos in the lead up to elections. This year, Labour has obliged by providing explanations and costing policies over the next four years.”
“Our analysis is that the policies announced to date appear to be reasonably costed with realistic assumptions. The numbers add up and there is an honest acknowledgement of the extra debt Labour’s spending promises would lead to.”
“About half of Labour’s new spending would be funded by scrapping National’s tax cuts. The other half, approximately, comes from the slower pay down of debt."
“The desirability of Labour’s huge spending promises is a judgement call. Whether or not the numbers add up, however, is not.”
This week, the Taxpayers’ Union launched the Bribe-O-Meter, which can be viewed here. The Bribe-O-Meter includes the cost of National and Labour party election policies up until July 17. It will be updated weekly with other parties added progressively in the coming weeks.