The Labour Party will run smaller operating surpluses over the next five years and take on a higher level of debt to pay for $21.85 billion of extra spending to revive what it claims is a run down public service and bring forward its three free years of tertiary education.
Finance spokesman Grant Robertson today unveiled Labour’s updated alternative fiscal plan to incorporate the latest Treasury projections, which would see a Labour-led government spend an extra $5.17 billion on social security including increased Working for Families transfers, an additional $7.92 billion on health and $6.2 billion on education through to the 2021/22 financial year.
To help cover the additional spending, Labour would ditch National’s promised tax …
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