The Herald reports:
Labour’s finance spokeswoman Barbara Edmonds has replaced a graph that incorrectly stated the Ardern-Hipkins Government reduced New Zealand’s debt levels by about $31 billion in its second term. …
In fact, depending on what measure you use, Labour’s second term saw a rapid increase in borrowing thanks to the pandemic, reducing the tax take and increasing expenses. Debt increased by $72b or $36b by two of the most common recent metrics.
It is a concern that Labour’s Finance Spokesperson doesn’t even realise debt increased massively under the former Labour Government.
In June 2017 net core crown debt was $59.5b. In June 2023 it was $155.3b.
That’s an average increase of:
And Labour are claiming they reduced debt!
The post Edmonds claims Labour reduced debt! first appeared on Kiwiblog.
