Government's Borrowing Binge Piles onto Trillion-Dollar National Debt

With recent reports that New Zealand’s total private and public borrowing will soon pass one trillion dollars, how much of this is being racked up by the Government?  The Government’s gross debt has passed $281 billion (see DebtClock.nz). 

“New Zealanders are already drowning in debt, from record mortgages to council and business borrowing. Together, we’re closing in on a trillion dollars. Instead of easing the load, the Government is piling on hundreds of billions more.”

“Total Government borrowing is now nearing $140,000 per household. That’s not just numbers on a spreadsheet; it’s a massive mortgage hanging over every Kiwi family, one they never signed up for.”

“Voters wanted change, but Nicola Willis is marching down the same road as Grant Robertson – only faster. While families tighten their belts, Willis is doing the opposite and borrowing more recklessly than Labour ever did.”

“Nicola Willis promised discipline, but she’s proven to be just as reckless as her predecessor. All we’ve got is more borrowing, more waste, and a bigger bill for the next generation.”

For live updates on the Government debt burden, visit DebtClock.nz.