Labour has shown us the money. Here’s Vernon Small’s summary:
Labour releases spending plans
Labour would return to surplus by 2014-15 and clear debt in 10 years Labour leader Phil Goff says. “I am not Jerry McGuire but I am here to show you the money.”
He said Labour would pay off net debt faster than National without selling assets. Labour would borrow a little more short term but the revenue from dividends on the assets and from capital gains longer term would lower debt faster.
Extra borrowing would be $2.6b in the first three years and peak at $4b but fall from 2017-18 and Labour would reach net zero debt before National would.
Early reaction from the Herald is here. We’ll probably have more to say (like everyone else!) when we’ve had a look.
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