Labours Fiscal Hole is shaping up to be $940 million every week

Labour have put New Zealand into one enormous fiscal hole with it's reckless spending and endless parade of freebies. As Chipkins zooms around the country promising more and more 'free' stuff at every stop, the hole continues to get bigger.

Meanwhile economists think they've found a $540 million annual (not weekly) hole in National's tax plan. RNZ journalists demand to know if this will result in 'more borrowing'. Nicola Willis says she stands by her modelling. The Left go away to find more economists so their attack can continue.

But if Labour wants to borrow more (i.e. 'more borrowing') for 'free' dental care, that's all good cos 'fully costed'.

https://www.nzherald.co.nz/business/...F2DSRDUFHDI44/

By Jamie Gray
13 Sep, 2023 05:00 PM

'The New Zealand’s borrowing requirement for the fiscal 2024 year will equate to $940 million a week, BNZ economists estimate.'

Quote:

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Originally Posted by Logen Ninefingers

Labour have put New Zealand into one enormous fiscal hole with it's reckless spending and endless parade of freebies. As Chipkins zooms around the country promising more and more 'free' stuff at every stop, the hole continues to get bigger.

Meanwhile economists think they've found a $540 million annual (not weekly) hole in National's tax plan. RNZ journalists demand to know if this will result in 'more borrowing'. Nicola Willis says she stands by her modelling. The Left go away to find more economists so their attack can continue.

But if Labour wants to borrow more (i.e. 'more borrowing') for 'free' dental care, that's all good cos 'fully costed'.

https://www.nzherald.co.nz/business/...F2DSRDUFHDI44/

By Jamie Gray
13 Sep, 2023 05:00 PM

'The New Zealand’s borrowing requirement for the fiscal 2024 year will equate to $940 million a week, BNZ economists estimate.'

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Good grief - $940m a week - almost a billion a week !

What a Huge ****** shambles Labour will be leaving behind ;)

Of course this will continue compounding with rising interest servicing until it can be brought under control
and reversed.

Quote:

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Originally Posted by nztx

Good grief - $940m a week - almost a billion a week !

What a Huge ****** shambles Labour will be leaving behind ;)

Of course this will continue compounding with rising interest servicing until it can be brought under control
and reversed.

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Yes, it’s a total cluster duck. Yet the mainstream media report ‘we’ll be in surplus in 2027!’
We were supposed to be in surplus in 2025, the it got pushed back a year in Mays budget, now it has been pushed back a further year in the PREFU. Robertson just fudges the numbers, there is no hope of getting back to surplus this decade….all Labours freebies are already baked in.

What about the mess Luxon left Air NZ in.

Part of NZ's borrowing will be based on that taxpayer support.

Quote:

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Originally Posted by Panda-NZ-

What about the mess Luxon left Air NZ in.

Part of NZ's borrowing will be based on that taxpayer support.

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Here comes the erstwhile NZ First supporter with the standard routine of attacking National and defending Labour.

How much is it costing NZ to support Air New Zealand?

Quote:

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Originally Posted by Logen Ninefingers

Here comes the erstwhile NZ First supporter with the standard routine of attacking National and defending Labour.

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Makes sense eh If I want the nats dependent on NZF.

Quote:

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Originally Posted by Logen Ninefingers

How much is it costing NZ to support Air New Zealand?

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Many hundreds of millions to bail them out (plus interest costs). Luxon was at the time the highest paid executive of a listed company & shareholders seem to have recieved poor outcomes for their contribution.

Quote:

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Originally Posted by Panda-NZ-

Many hundreds of millions to bail them out (plus interest costs). Luxon was at the time the highest paid executive of a listed company & shareholders seem to have recieved poor outcomes.

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Lots of editing going on in your posts….you getting a bit frantic?

Lots of editing, and lots of deflecting. When confronted with the scale of Labours borrowings you deflect to something truly pitiful about ‘Air New Zealand and Luxon’. It is Robertson who is responsible for the huge borrowings and borrowing costs that we are facing, Robertson and Robertson alone. Certainly nothing to do with Air New Zealand.

Quote:

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Originally Posted by Logen Ninefingers

Lots of editing going on in your posts….you getting a bit frantic?

Lots of editing, and lots of deflecting. When confronted with the scale of Labours borrowings you deflect to something truly pitiful about ‘Air New Zealand and Luxon’. It is Robertson who is responsible for the huge borrowings and borrowing costs that we are facing, Robertson and Robertson alone. Certainly nothing to do with Air New Zealand.

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Such as deflecting from National's tax costings with this topic.

Hmm should I create a new topic to discuss the modelling issues raised by professional economists rather than random people on sharetrader.

https://www.nzherald.co.nz/business/...GVMTWTHWZTCTU/


THE PREFU FORECASTS ARE NOT REALISTIC
Dr Bryce Wilkinson NZ Herald
14 September, 2023

'Tuesday’s Treasury’s pre-election forecasts confirmed that Government spending exceeds revenue by more than what was forecast in the May 2023 Budget.

Far too many commentators are concluding the increase is not too bad.

Do not be fooled. The forecasts are not realistic. They are too optimistic.'