How will the Leftist legacy media handle this?

Our economic team are just out of the Treasury lock-up where they’ve been studying the Pre-Election Fiscal and Economic Update (PREFU).

And things are bad, really bad.

We were expecting a blood bath, but what has been delivered is better described as a “shambles” – a butcher’s slaughter house.

The opening of the books reveal that the Government is spending more than ever before. Astonishingly, Grant Robertson is spending even more now than he did during the height of covid lockdowns.

According to the IMF, New Zealand is now running the second largest fiscal deficit of all the developed economies.

Core Crown Debt has exploded out to more than $160 billion. Per person, that is nearly $123,000 for the typical household of Mum, Dad, and two kids. For the average (smaller) household it is just shy of $82,000.

And the interest costs are enormous. Already we were paying more for debt services than for law and order (Police, Corrections, the Courts etc), but now it’s projected to be $9.8 billion by 2027 – which is more than what we are forecast to spend on schooling kids!

Our kids will be paying dearly for Grant Robertson’s recklessness 

Grant Robertson has pulled all the tricks to try and massage today’s figures. He told the Treasury to slash projected future spending so that he can provide false assurances about getting back into surplus.

But the numbers do not lie. Treasury has exposed that Grant Robertson’s deficit spending now amounts to $72 million per day.

I’m just back from Parliament where we launched our real-time New Zealand Government Debt Clock.  

We hosted a BBQ fundraiser towards paying back the debt and despite our best fundraising efforts, thanks to these new numbers, the Debt Clock just got a lot heavier!

Getting the word out: It’s so much worse than voters know

As soon as we saw the PREFU numbers we knew the debt clock was the right campaign tool to pour our limited resources into.

But now we have to get it onto the road and around New Zealand.

Will you fuel up the Debt Clock so voters realise the seriousness of the situation?

With these new numbers, we need to get the Debt Clock on the road right now if we are to ensure voters understand that the cupboard is bare.

As we all know too well, Wellington has ensured fuel isn’t cheap! But if we can find enough supporters to chip in to gas and milage, we’ll get the Debt Clock around the country, and to every major political debate, spending announcement, and campaign event humanly possible.

It cost $148.22 to full the tank with diesel in Waiouru last night on the way down to Wellington. We need that over and over and over again if we are to keep the Debt Clock on the road. Will you fill’er up?

>>> Yes, I’ll sponsor a tank of gas ($148.22)

>>> Yes, I will sponsor half a tank of gas ($74.11)

>>> Yes, I’ll chip in another amount

With the national debt getting 3 million dollars heavier every hour, every day, we need all the support we can muster to keep fuel in the tank and the Debt Clock on the road up until voting on 14 October.

Jordan Williams
Executive Director, New Zealand Taxpayers’ Union.