Table of Contents
Summarised by Centrist
Nicola Willis says Labour’s limited policy detail has left a “yawning gap” of $18.2 billion between the spending it appears to support and the revenue it has identified to pay for it.
The largest item is National’s estimate that restoring the previous pay equity regime would cost $10.9 billion over four years, including $2.9 billion in the 2027/28 year.
Willis released a 10-point document titled “Labour’s Hidden Bill”, arguing the Opposition has deliberately left voters uncertain about the scale and cost of its economic programme.
Labour has strongly criticised the government’s changes, but has not confirmed whether it would fully reinstate the former system.
Willis said Labour could correct National’s assumptions by stating clearly what it intended to do.
“I want a yes or no answer on whether they would reinstate it,” she said.
The calculation also includes an estimate for Labour’s proposed Future Fund, based on dividends from Genesis, Mercury, Meridian, Air New Zealand and Transpower.
Willis also questioned Labour’s claim that its proposed public transport fare cap could save regular commuters an average of $1,200 a year while costing the government only $65 million annually.
“That simply cannot be true,” Willis said.
Labour finance spokeswoman Barbara Edmonds called National’s document “about as desperate as it gets” and accused Willis of trying to distract from the government’s own fiscal record.
Labour says it will release a fully costed fiscal plan later this year.
Read more over at The NZ Herald and RNZ
