Labour will increase debt 'to meet its promises'


Between slashing doctor fees to its KiwiBuild programme, the Government’s policy changes involve a large chunk of change. Opposition finance spokesperson Steven Joyce claims that these policies will put New Zealand in even greater debt.

Mr Joyce joins The AM Show to discuss National’s perspective on the Government’s unrealistic policy budget.

Mr Joyce previously claimed that Labour has a $11.7 billion hole in its budget, despite some economists disputing his numbers. Labour's finance spokesperson Grant Robertson demanded an apology, calling Mr Joyce's claim a "patently false and cynical attack".

At the current rate of increased Government spending, Mr Joyce says that people will eventually be saying “now hang on, how much is enough?”

The new Government is going to spend more than it said to meet its promises.

“Why do we need to borrow more money as a country?” asks Mr Joyce.

Mr Joyce stands by his $11.7 billion estimate, stating that some people are saying he’s “being too conservative.”

Watch the full interview with Steven Joyce above.

The AM Show with Duncan Garner, Amanda Gillies and Mark Richardson, weekdays 6-9am on RadioLIVE and streaming live to the rova app on Android and iPhone.