Labour admits $90 million miscalculation while rejecting National's $2.2 billion claim on Investment Boost
Labour acknowledged a $90 million mistake in its fiscal plan and dismissed National’s claim that cancelling Investment Boost leaves a $2.2 billion shortfall.
Labour confirmed a $90 million discrepancy in its fiscal plan after the Taxpayers Union flagged a cost that had been recorded as a saving. A party spokesperson called the correction minor and said it does not affect the government's ability to meet its commitments. National’s finance spokesperson Nicola Willis claimed that scrapping the Investment Boost policy would leave a $2.2 billion deficit, based on a $5.5 billion cost estimate.
Labour’s finance spokesperson Barbara Edmonds countered, explaining that the net cost and gross savings are calculated differently, so the numbers are not comparable. Willis rejected the explanation, calling it “gobbledegook” and demanding an independent Treasury review, which was declined. The debate comes as recent polling shows National’s support falling to 25.9 percent.
