Letter: Not a budget for all New Zealanders

Jul 12, 2024 As part of the protest group Postpone The Tax Cuts, we met with Ms Kirkpatrick on May 3 this year and conveyed to her our concerns about the amount of borrowing that the National-led Coalition government would need to undertake to finance this budget. We were told to wait until the budget came out and then see if our concerns were valid.

Well, it turns out Finance Minister Nicola Willis will need to borrow $28.7 billion over the next four years. That’s up by $22 billion from the $6.5 billion forecast just before Christmas that sent financial experts across the political spectrum calling on the Government to postpone the tax cuts.

The tax cuts themselves will cost Ms Willis $14.7 billion.

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