“Treasury has released a long list of Government promises it describes as “fiscal risks” because the costs are uncertain or unquantified,” says ACT Leader David Seymour.
“Labour’s ideological political promises like light rail, free school lunches, three waters reform, and screen production grants all feature.
“But the big risk New Zealanders need to watch out for is new taxes on the horizon.
“Plans to increase tourism taxes, a digital services tax and now there are questions about the need to raise fuel taxes.
“Labour doesn’t seem to appreciate that taxes come from hard-working Kiwis who expect it to be spent wisely on public services and things that will improve our lives.
“Finance Minister Grant Robertson likes to hide behind the cover of COVID to justify his addiction to spending – but these projects are unnecessary and high risk.
“New Zealanders deserve better than this recklessness when debt is so high and we’ve seen the largest tax take ever.”
NB: The fiscal risks section can be found on page 61 of HYEFU.