Economic recovery will only be secured if the remaining $20–24 billion in the recovery fund is well spent, says the New Zealand Taxpayers’ Union.
Taxpayers’ Union Executive Director Jordan Williams says, “The Government’s economic plan all hinges on the success of their $50 billion recovery fund. If the remaining $20–24 billion is sprayed around aimlessly with no focus on quality of spend, taxpayers will simply be left with a near-tripling of debt and no economic success to show for it.”
“Using COVID-19 as justification for pushing existing political agendas, such as a ‘nature based jobs’ fund, won’t lead to an economic recovery. It will lead to decades of New Zealand being poorer.”
“The Government must ease the tax burden with the remaining $20–24 billion earmarked for stimulus. Letting taxpayers keep more in their pockets would deliver far more for the economy than spending up large on poorly targeted big-ticket projects. And unlike big-ticket projects which get endlessly delayed, the economic benefit of tax cuts would kick in immediately.”