Steve JoyceNational was on track to stay well within the parameters of the pre-election fiscal update and reduce the government net debt to $56 billion by 2022, Finance Minister Steven Joyce said yesterday. "And that's before you consider how unrealistic they are being about their revised fiscal plan and its projected zero budgets outside of education and health.'' Labour's policies would also have negative effects on economic growth and tax revenue, which would further increase debt, he said. They would be funded from the separate National Land Transport Fund and the use of public private partnerships. "The promises still represent money taken from households through higher tax, higher Crown debt - which is simply deferred tax - or less money for other spending areas.''

Source: Otago Daily Times September 11, 2017 17:23 UTC