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Government Expenditure Still Out of Control
Government Expenditure Still Out of Control
The most concerning aspect of Budget 2010 is its failure to stop the expansion of Government expenditure, ACT New Zealand Finance Spokesman Sir Roger Douglas said today.
"While I applaud the reductions in tax – which could have gone further – it’s deeply troubling that the growth in Government expenditure continues to outstrip inflation. Core Crown expenses are set to rise almost 10 percent in the 2010/11 financial year," Sir Roger said.
"To be fair, part of that increase – approximately two percentage points – is attributable to the increase in GST. Even taking this into account, the rate of increase is almost four times higher than inflation is right now, me
"Given how
terrible fiscal management has been since 1996, it is easy
to overestimate the positives in this budget. So long as
Government expenditure growth continues to outstrip
inflation, then the real size of Government is increasing.
National – the party that believes in private enterprise
and the power of tax cuts – is increasing Government
expenditure.
"If National were able to apply greater
levels of fiscal control, then taxes could be cut further.
The medium term goal for this conserva
ENDS
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