Coal for Christmas: more borrowing on the horizon

File photo.

Grant Robertson’s fiscal plans look to be exposed, with ANZ now forecasting $13 billion more in Government borrowing than was projected by Labour in the lead up to the election, says the New Zealand Taxpayers' Union.

"Grant Robertson told Parliament yesterday he would be sticking with the pre-election fiscal track, so why are ANZ’s boffins coming up with such alarming numbers," says Taxpayers' Union Economic Advisor, Joe Ascroft.

"If ANZ are correct, the average household will be saddled with nearly $8,400 additional Government debt, and that’s before accounting for the ‘budget challenges’ that the Minister described in an interview earlier this week.

"The Government’s pre-Christmas mini-budget was supposed to be something to celebrate. But with cracks appearing, Mr Robertson may be gearing up to deliver coal in taxpayers’ stockings."

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