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Election 2014 Will Be Costly

Election 2014 Will Be Costly

17 SEPTEMBER 2014
FOR IMMEDIATE RELEASE

The Taxpayers’ Union has today released the final update for its 'Bribe-O-Meter' election costing website in the lead-up to Saturday’s general election. Taxpayers’ Union Executive Director Jordan Williams says:

“The Bribe-O-Meter now reflects the costs of all policies announced up to today. It shows that of the main parties, the Greens have promised to spend the most, $6.54 billion, or $3,857.77 per household during the next Parliamentary term. The Labour Party have committed to a policy programme worth $5.81 billion, or $3,423.16 per household, while National have committed to $1.4 billion, or $823.62 per household of new spending.”

“While Labour and the Greens have outlined their plans for the next three years, National have remained more reserved, perhaps signalling debt repayment or future tax relief.”

“ACT is the only party promising to cut existing spending. The cuts are worth $11.67 billion, or $6,875.60 per household.”

“The only new spending promised by the Conservatives relates to their ‘tough on crime’ policies. According to our independent expert those policies are likely to cost $400 million, or $235.88 per household.”

“United Future has remained steady and appears not to have announced new spending during the campaign. Peter Dunne’s changes to superannuation and KiwiSaver would cost $2.12 billion, or $1,252.51 per household.”

Tens of thousands of New Zealanders have already been to the website available at Bribe-O–Meter.co.nz.

“With the Bribe-O-Meter, the Taxpayers’ Union has armed the voting public with the facts. It does not express a view on the value or quality of the spending - that is up to the publicon Saturday."

All financial figures for the Bribe-O-Meter have been obtained by Dr Michael Dunn of Economic and Fiscal Consulting Ltd. Dr Dunn is a former Principal Economist at the New Zealand Institute of Economic Research (NZIER). He served as a Manager at IRD's Forecasting and Analysis unit for 12 years and has advised both Labour led and National led administrations. Further information about Dr Dunn can be found here.

ENDS

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