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Debt Interest Costs Soon To Be Higher Than Spending On Primary Schools, Secondary Schools & Ministry Of Justice Combined
The Taxpayers’ Union is slamming the projected explosion in Government debt over the next 4 years, which will see interest payments amounting to more than $4,622 for every household in the coming financial year alone.
Taxpayers’ Union Campaigns Manager, Connor Molloy, said:“Government debt ballooned by 161% under Grant Robertson. Forget cutting it back, Nicola Willis is pumping it even higher.
“Treasury forecast interest payments will amount to $9.2 billion ($4,622 per household) in the 2024/25 fiscal year. That’s the same as what the Government will spend on primary schools, secondary schools and the Ministry of Justice combined.
“Today was Nicola Willis’s opportunity to save our kids and grandkids from higher taxes and a sovereign debt recking ball. Instead, she has continued the legacy of Grant Robertson. That’s now what Kiwis voted for.”
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