TODAY |

Kiwis ‘more fiscally responsible' than current Government, according to ACT’s Debt Destroyer tool

ACT leader David Seymour says according to his party’s Debt Destroyer tool, Kiwis are “more fiscally responsible than [Finance Minister] Grant Robertson and want to reduce Government spending”. 

ACT leader David Seymour with Nicole McKee, third on the party's list (left) and deputy leader Brooke van Velden. Source: 1 NEWS

The interactive tool allows people to choose the parts of Government spending they would like to cut to start paying off debt.

Options for reducing spending include pausing contributions to the Superannuation Fund, ending KiwiSaver subsidies and ending Winter Energy Payments, all in line with ACT’s tax policy. 

Seymour said Debt Destroyer puts Kiwis in control over what spending takes place.

"Of the more than 1300 respondents, 90 per cent chose to save the taxpayer money.

“On average the amount saved was $65 billion over 10 years.”

He said the current Government has borrowed about $140 billion so far - $28,000 for each New Zealander.

Earlier this week Seymour announced that, if elected, ACT would return to debt levels at 35 per cent of GDP within the next decade. 

read more
Labour disparages National’s tax cut promise as ‘desperate and irresponsible’; minor parties also pile on

The party proposed a number of spending cuts, including abolishing the Government's Provincial Growth Fund, the One Billion Trees Programme and KiwiSaver subsidies.

ACT also wants to cut benefit increases to match pre-Covid-19 levels, abolish increases to Working For Families payments and remove benefit changes, like the Winter Energy Payment, to the Families Package

On Thursday, Seymour said Labour’s tax policy would burden future generations.

“It’s totally irresponsible to lump kids with a mountain of debt when they have no say on the issue,” he said.

Your playlist will load after this ad

The party's finance spokesperson says the September 9 announcement is the totality" of what they will be implementing. Source: Breakfast

He said ACT would borrow $76 billion less than Labour this decade if it was in Government after the election. 

Seymour also criticised National’s tax policy on Friday of providing tax relief while promising large-scale infrastructure projects and other spending, labelling it “just not realistic”. 

Your playlist will load after this ad

Judith Collins said the cuts would allow average earners to pocket an additional $50 each week as the nation battles the Covid-19 pandemic. Source: 1 NEWS

Voters needed politicians to have “an honest conversation about debt”, Seymour said.

Meanwhile, Labour’s finance spokesperson Grant Robertson on Friday labelled ACT’s tax policy as a “radical austerity plan”.

“[It] puts popular programmes like KiwiSaver, Superannuation, the Winter Energy Payment and Working for Families at risk, right at a time when people need certainty and continuity,” Robertson said.