Home > The Body Politic > Isn’t it a crying shame…? (Part #Rua)

Isn’t it a crying shame…? (Part #Rua)

… that politicians continue to lie and misrepresent issues, just to push their own perverse agendas,

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Source

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Banks is telling outright lies when he says,

Too often politicians spend up large in the good times, leaving nothing in reserve for when things get tough. We saw this type of spend up occur under the previous Labour Government.” – Ibid

Every time this blogger reads comments like that, reinforces the view that the Right Wing are desperate to re-write history, to paint Labour as as fiscally incompetant.

The truth, though, is completely the opposite: Labour posted surpluses year after year, during it’s administration from 2000 to 2008. This IMF graph is fairly clear how debt dropped from 2000 to 2008 – and rose once National took power in November, 2008,

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The Government Debt in New Zealand was last reported at 31.6 percent of the country´s GDP. From 1985 until 2010, New Zealand's average Government Debt to GDP was 41.50 percent reaching an historical high of 71.60 percent in December of 1986 and a record low of 17.40 percent in December of 2007

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See more here: Labour: the Economic Record 2000 – 2008

Under Labour (red), debt dropped.

Under National (blue), debt went up (not helped by two tax cuts in April 2009 and October 2010 we could ill afford).

This is reinforced by another chart, with data sourced from NZ  Treasury, that shows government budgets  under National (in blue) and Labour (in red),

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New Zealand reported a government budget deficit equivalent to 3.3 percent of the Gross Domestic Product (GDP) in 2010. Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.

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In fact, if any government is guilty of massive deficits and borrowing, look no further than this one,

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Full Story

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Full Story

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And just to prove how incompetant National truly is,

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So much for the ’09 and ’10 tax-cuts being “fiscally neutral”. Rubbish. Those tax cuts were made at a time we could not afford them; were funded by massive borrowings from overseas; and are a dead weight on this country’s finances.

What makes all this even worse is that our Dear Leader, John Key, was warned about the unsustainability of National’s tax cuts programme,

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Full Story

When right wingers try to re-write history, it gives the rest of us the opportunity to set the record straight.  It serves as a valuable opportunity to remind New Zealanders that centre-left governments tend to be fiscally prudent, whilst right wing governments give away money (through tax cuts) that we do not have.

Eventually, the message percolates through to the Great Unwashed. And people like John Banks are caught standing in a rather cold wind, with their trousers down around their ankles.

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= fs =

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  1. Sommer
    27 April 2012 at 2:03 pm

    If the Nats have to lie to make themselves look good, it doesn’t say much for them, does it? Lying prats, I’ll never vote for them!

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