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Meeting Budget Responsibility Targets Applauded
Taxpayers’ Union applauds Government for meeting
Budget Responsibility
Targets
FOR
IMMEDIATE RELEASE
9 OCTOBER
2018
Minister of Finance Hon. Grant Robertson and the Government should be congratulated for remaining on track to meet their self-imposed debt targets, says the New Zealand Taxpayers’ Union.
Taxpayers’ Union Economist Joe Ascroft says “It would have been politically convenient for the Government to abandon their Budget Responsibility Targets when business confidence began to slide, but to their credit they have maintained their commitment to prudent fiscal management. The latest data shows the Government is well on track to meet their debt targets.”
“However, if the economy does soften, the debt targets
should not be treated as a license for revenue gathering and
tax increases. New Zealanders took the Budget Rules
seriously because they were a repudiation of a high-tax
high-debt economy. Simply slapping on more taxes to fill any
holes that might appear would water down the Minister of
Finance’s credibility with the public.”
ends
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