ACT Party Leader David Seymour
ACT Party Leader David Seymour

Borrowing now and forgetting tomorrow is fiscal child abuse - OPINION

Opinion 04/09/2020

This is an Op-Ed writen by ACT Party leader David Seymour

Borrowing now and forgetting tomorrow is fiscal child abuse

OPINION: Imagine logging into your internet banking and finding that you had $28,000 debt on your credit card. You didn’t make any of the choices about what it was spent on, but you have to pay it back. That’s effectively what’s happened to every New Zealander. 

Labour, helped by New Zealand First and the Greens, has borrowed $140 billion. That’s $28,000 for each and every New Zealander. 

The thing about debt is it has to be paid back. It’s the kids currently at intermediate who’ll lose. They’ll pay higher taxes for fewer services tomorrow because of politicians’ irresponsibility today. Borrowing now and forgetting tomorrow is fiscal child abuse.

Every other political party is in a race to spend more money. But every extra dollar government spent right now will have to be taxed later.

When businesses and households tighten their belts, so should politicians. We need an honest conversation about our spending and debt problem.

Not all Government spending is bad – but we need to be sensible. Future generations will rightly ask ‘what they hell were you thinking,’ when the Prime Minister went to Queenstown to get her photo taken with a bungee jump operator for $10 million, and the Green Party gave $12 million to a school where students learned about the healing power of crystals. 

We need to get real about the financial situation we find ourselves in. It’s time for political parties to think about the future and stop making unaffordable promises just because there’s an election coming up. ACT will keep the other parties honest.

This is an Op-Ed writen by ACT Party leader David Seymour