PRESS RELEASE

20 June 2012
National’s love affair with debt has to stop says Craig.

Following on from Bill English’s pledge of $1.26 billion to the International Monetary Fund, and his admission that NZ is one of the most indebted countries on the developed world, Colin Craig, Leader of the Conservative party says “Let’s not pretend the pledge of 1.26 billion, is money we actually have. The money will have to be borrowed on top of our already mounting debt.”

“Ever increasing Government debt coupled with huge private debt puts our country at risk, and we’ve already had one credit downgrade too many” Mr Craig says.

“It comes as a surprise to see National being so honest about the finances of our country for a change.”

Mr Craig was very critical of the 2011 ‘Zero’ budget which resulted in a significant overspending.

“Everyone can see that ‘Zero budget’ does not equate to increased spending of 6.4 billion dollars” he says.

“Balancing our books is about making tough decisions, and at some point the Government will have to start making them. Either that, or they will leave office having missed the opportunity to set things right.”

“The Conservative Party is committed to balancing the books. New Zealand households and businesses have pulled back spending, and made the decisions necessary to survive hard times. Meanwhile National seem to be merely concerned with popularity, rather than doing the right thing for the country.”

“You can’t just keep borrowing, ultimately the piper must be paid” says Mr Craig.

“Right now we are spending the wealth of future generations and that can’t be justified.”

ENDS