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Labour’s 2020 strategy: Borrow to bribe

“Labour’s 2020 strategy has come into focus with a promise to borrow billions of dollars to win an election”, according to ACT Leader David Seymour.

“Borrowing is not bad in and of itself, but new debt must go towards high-quality, long-term infrastructure.

“What are the shovel-ready projects that will be funded? Has the Treasury done cost-benefit analyses to ensure New Zealand will be better off as a result of their completion?

“It’s all well and good for Grant Robertson to point to historically low interest rates as a reason to borrow, but the quality of spending also matters.

“This Government’s spending priorities have been highly political: Fees-Free for students from middle-class families, the Provincial Growth Fund for NZ First’s base, and environmental corporate welfare through the Green Investment Fund.

“These wasteful schemes should make New Zealanders wary of any additional borrowing. That’s why it should be accompanied by a plan to cut existing low-value spending.

“The Government must not load up future generations with debt and taxes for the sake of winning an election.

“Labour needs to show that it has high-quality projects ready to go before it borrows to bribe.”

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