Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Say "No!" to Fiscal Child Abuse

PRESS RELEASE

FOR IMMEDIATE RELEASE
Budget

Say "No!" to Fiscal Child Abuse

With the National/ACT government about to release its first budget, Libertarianz Deputy Finance Spokesman and Auckland economist Julian Darby warned that deficit spending, funded by borrowing, will have implications for the youngest in society. "An unbalanced budget has to be funded, and if this is funded by additional borrowing, then future generations will bear the burden of paying off the debt. This is 'fiscal child abuse',” said Darby. “A responsible political party and government would, at the very least, balance the budget," he added.

Instead, in its first budget, the National/ACT government appears to be about to fund a series of deficits by borrowing, thereby mortgaging the lives of future generations. "While this demonstrates that they are irresponsible, what is outrageous is that they are about to renege on their promise of tax cuts, a promise which formed a central part of their election campaign,” noted Darby. “To blame the recession for breaking this promise is no excuse, for the effects of the recession were well known to everyone when this promise was made. They are either incompetent, or they willfully lied in order to get onto the Treasury benches," continued Darby.

Libertarianz support tax reductions in all their forms. In fact, tax cuts are more important than ever so that money is returned to the productive members of society; for it is they who create wealth and jobs. It follows, therefore, that breaking the promise of tax cuts would hinder any recovery of New Zealand's economy.

Darby pointed out that tax cuts must be accompanied by equivalent reductions in government spending. "It is essential that government spending is slashed. Many government departments and programmes can easily be eliminated saving significant sums of money and allowing the promised tax cuts to proceed. And yet," highlights Darby, "this government has shown no interest in meaningful spending cuts. On the contrary, they are about to embark on a multi-billion dollar programme of spending on infrastructure and home insulation."

Finally, Darby issued a warning. "This government is about to engage in fiscal child abuse by mortgaging the lives of future generations. They do this while breaking their central election promise of tax cuts and while creating significant spending programmes which will also hinder New Zealand's economic recovery. Muldoon is alive and well in Wellington."

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Government: Labour and Greens reach a deal

The Labour Party and the Green Party will have a Cooperation Agreement that will see the Green Party Co-leaders hold ministerial portfolios outside of Cabinet, and areas of cooperation on climate, environment and child and community wellbeing issues. More>>

 


Referendum Preliminary Results: 'Yes' On End-Of-Life, 'No' On Recreational Cannabis

End of Life Choice Referendum The referendum asked the question: 'Do you support the End of Life Choice Act 2019 coming into force?' 65.2% Yes 33.8% No 1.0% Informal VOTES NUMBER OF VOTES RECEIVED PERCENTAGE OF TOTAL VOTES Yes 1,574,645 65.2% ... More>>

ALSO:

Gordon Campbell: On National Being Shafted By Its Own Creation

As it licks its wounds, let’s hope the National Party can still find time to look back with some pride at what it has achieved in Epsom. The Act Party’s nationwide success on Saturday night has been a tribute to National’s foresight, and to its ... More>>

ALSO:

Green Party: 'Fruitful Discussions ... Further Discussions To Have'

The Green Party says there is a negotiation going on with the Labour Party, but there are more discussions to be had. More>>

ALSO:


Border: No Changes To Border Exemptions After Fishing Crew Test Covid-19 Positive

The cases were detected after routine day three testing but the immigration minister and air commodore agree there's no need to change border exemptions. More>>

Election: ParityBOT_NZ Processed Nearly 200,000 Tweets To Find And Fight Online Abuse Over The NZ Election

Auckland, New Zealand: Of the almost 200,000 tweets directed at women candidates that Areto Labs’ proprietary election Twitter bot, ParityBOT_NZ, processed over the New Zealand election period, nearly 4,000 were classified as toxic and triggered ... More>>

Stats NZ: New Report Shows Significant Changes To New Zealand’s Climate

Climate change is already happening in New Zealand and could have a profound impact on future generations of New Zealanders, a new report from the Ministry for the Environment and Stats NZ says. Our atmosphere and climate 2020 , released today, includes analysis ... More>>

ALSO:

Judith Collins: Obese People Must Take Responsibility For 'personal Choices'

National Party leader Judith Collins has described obesity as a weakness and says people should not 'blame systems for personal choices'. More>>

Māori Party: Poll Reveals Tamihere On Cusp Of Historic Māori Movement Election Victory

John Tamihere’s election campaign is on the rise and on track to return the Māori Party to parliament, a new Māori TV poll has revealed. The poll released on 11 October during the seventh and final Māori TV Maori Electoral campaign coverage has Tamihere ... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels