Labour's tax pledge means their numbers don't add up
The Taxpayers' Union says Labour can’t have it all ways, pointing out that Labour’s manifesto is costed at $23 billion over the next Parliamentary term, second only to New Zealand First.
“Labour have done the right thing in committing to put any capital gains or land tax to the vote,” says Jordan Williams, the group’s Executive Director.
“But without new revenue, and having promised new spending of $13,287 per New Zealand household, Labour need to explain what spending they’ll cut in order for Grant Robertson to keep to the Party’s debt targets.”
“Two plus two doesn’t equal five. Labour can’t credibly promise to hike spending, keep to their debt limits, but also say they won’t hike taxes. It just doesn’t add up.”
The Taxpayers’ Union’s Bribe-O-Meter is available at www.bribe-o-meter.co.nz. It has tracked all spending promises by political parties and shows the total cost of the policies over the next Parliamentary term. Note that policies outside that timeframe (such as much of National’s $10b pledge for new roads) are not included, however, unlike many figures promoted by parties, the Bribe-O-Meter includes both capital and operating spending.