Release: National’s plan does not add up and will make life harder for Kiwis

National’s dodgy tax plan will make many families worse off through their cuts to early childhood education, cheaper public transport and public services. Their tax and burn plan will also pour petrol on the housing market that Labour has worked hard to rein in,” Grant Robertson said.

  • Voodoo costings for new taxes mean more holes in National’s fiscal plan
  • Billions of dollars of cuts to public services
  • Hanging first home buyers out to dry by getting rid of foreign buyer ban
  • An end to climate action
  • Cutting 20-hours free ECE for 2-year-olds and free and half price public transport for children, students, and low-income Kiwis.

“National’s cuts to the public services are more than double those the Government announced on Monday. National will be asking for 8 percent cuts in many agencies and therefore they will not be able to protect frontline services. Despite what they say, the fine print of their document says health and education will be cut to find savings.

“The Government announced earlier this week moderate restraint of public service spending, which would protect frontline services – National’s cuts will gut the agencies that support Kiwis. 

“National’s costings of the revenue from their new taxes look dodgy. It appears they have overestimated revenue from a number of sources. The more analysis there is the bigger the hole in National’s fiscal plan gets.

“This comes on top of the nearly $10 billion hole in national’s transport plan and failure to account for other spending and promise they have made.

“National is laying out some voodoo costings today with their claim to be able to grab $740 million per year from foreign buyers. The plan relies on more and more foreign buyers coming into the New Zealand market every year, despite putting a tax on them. It also beggars belief that there are that number of homes available every year to be bought up by foreigners to fund National’s tax cuts.”

National’s plan will also mean dramatic cuts to investment in tackling climate change and making our country more resilient. Once again this shows National’s lack of commitment to real action on climate change.

“It’s clear that only Labour has the balanced and responsible plan to support Kiwis with the cost of living, grow the economy sustainably and balance the books,” Grant Robertson said.

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