Labour’s credibility demands big new tax promises – Matthew Hooton

Summary

Finance Minister Nicola Willis plans to increase net new spending in the Budget by $1.3 billion, reduced from an earlier announcement of $2.4 billion, yet she will still spend more than any finance minister in New Zealand’s history. Labour leader Chris Hipkins criticized this reduction as an invitation for young New Zealanders to leave, suggesting it reflects a form of austerity. However, the article argues that Willis’s spending cannot be considered austerity, as it continues to demonstrate significant fiscal profligacy.

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