After declaring they would raid the pandemic fund for middle class tax cuts, it turns out National have completely screwed up their numbers!

Election 2020: Labour alleges multi-billion-dollar National costings hole

Labour Party finance spokesman Grant Robertson says he has found a $4 billion hole in the National Party’s fiscal and economic plan over the next decade, which was released on Friday.

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National Party Finance spokesman Paul Goldsmith has been contacted for comment.

National’s plan, which included reining in spending and a big temporary tax cut also planned to suspend contributions to the New Zealand Superannuation Fund as a way of freeing up money and paying down debt quicker.

It is accounting for this change which appears to have tripped the party up. Instead of using the numbers from last week’s Pre-Election Economic and Fiscal Update (PREFU), it used the figures from the May Budget figures (the Budget Economic and Fiscal Update).

Treasury revised down the projections for the size of contributions to the superannuation fund over the next decade last week from $19.1 billion to $14.8 billion, leaving a $4.3 billion shortfall.

The Labour Party Figures have been verified by economic consultancy Infometrics.

The change would not affect the National Party’s proposed temporary tax cuts, which are being paid for by drawing down $4.9 billion of the $14 billion Robertson had set aside from Covid-19 Response and Recovery Fund for future Covid policies, if needed.

Instead, it would hit the bottom line of money available for National’s ongoing spending plans.




This is bad.

They’ve completely screwed up their budgets by using the wrong figures. This is humiliating for a Political Party, especially one that is attempting to claim they are better managers of the economy.

This will crucify Judith in the debate on Tuesday.


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    • On the subject of ass-holes, WK, there have been many previous National Party “holes in morality”, apart from the fiscal Goldsmith’s hole of $4 billion.

      Judith – and her albatross (sic.) “It’s a Maori name again!”

      I “stumbled upon” a bit of dirty “Judith” dirty, racist politics on Marcus Lush’s talk-back radio station. Click the link, close your eyes and tell me who Marcus Lush is talking to?

      What we need are some switched-on “proper journalists” in New Zealand to go and get the phone number of “Judith” and book her as a Leader of the National Party, sound-alike for fund-raising gigs, in the lead-up to the 17th October elections, in the same way that Alec Baldwin parodied DJT POTUS.

      Here’s what “Judith’s impersonator said”

      “I’m not at all racist, but I don’t know why the albatross chicks have to be called a Māori name all the time,” with Judith suggesting other names, such as Reg or Bob.

      Lush responded saying that people send in names they think are best, and found the judging criteria, which lists relevance, originality and creativity.

      “Do you think Bob would fit in with that criteria?” Lush asked, but Judith kept pushing her point in a 14 minute back and forth, to the delight of callers

      Farewell Judith, it was great that you got to be Leader of the Opposition after the Simon Bridges, and Todd Muller debacle, but it is time to resign and give the ‘next cab-off-the-National-Party-rank’, and still have time to mount a legitimate campaign against Jacinda Ardern.

      Bye- bye Judith

      Crushed by your own petard.

      • @Peter

        This sounds awfully like the REAL Crusher ?
        How did you get this info and how has it stayed secret for so long?
        Is it a Labour setup?

        Where are the mainstream media on this issue?

        So many questions, 1 hour to the election debate @JohnCampbell?

    • Yep, Wild Katipo, poor old “Merv” rang up Marcus Lush to on Stephen-Joyce-Mediaworks- Radio, on eHot August night and complained about one of his own National Party Candidates – ‘Nuwanthie Samarakone posing in a leotard’ He had a growing issue with her candidacy.

      Merv, the moral white majority, … yet another National Party moral hole….

      “Claiming to be confused about how Samarakone is running in Manurewa and Auckland Central, Merv decided to call Lush just before midnight last Monday.

      “I’m a bit confused because there’s billboards all over the place with this ‘Nuwi’ girl and then I understand that she’s also standing in Auckland Central,” he said.

      “Can you have a candidate in one electorate also standing for another?

      “She’s already standing in Manurewa and I was ready to vote for her but now I understand that she’s going over to Auckland Central – I’m confused.”

      He also raised questions around a photograph that had been spread around the National Party of Samarakone in a fitness leotard.

      Samarakone told Auckland Central delegates in an email last week the photo was from when she was competing “in the fitness realm” a few years ago.

      It’s amazing how many of these deep, dark, dirty politics’ holes there are opening up under the moral right National Party. They don’t seem to be “crushing it” do they Judith?

    • Last one out of National, turn out the lights and set the rat-traps.

      Still more to go, one with an albatross-moment, the other who didn’t pull his curtains down in his parliamentary office.

      Martyn’s Election Poster Image for this blogpost will have to be photo-shopped again soon.

      Happy days for the left-wing parties – but someone needs to look after Mike Hoskings over the next few weeks and days.

      Unhappy days for others

  1. What? We trust Treasury to get this right? Righto. What everyone fails to grasp is that whether its Labour, treasury or National these are ‘blue sky’ budgets made for legoland. They are made up best case scenarios. And before any Labour wombles come out of the woodwork please tell me any major infrastructure project and/or government budget that has come within +\minus 10% of actual cost/performance.

    It doesn’t happen – all election budgets and numbers should be taken with a grain a salt.

  2. Opps so Paul Goldsmith is repeating his $4.3 Billion hole with his master craftsman Steven Joyce eh???

    At least it was less of a hole than his champion Steven Joyce made as his hole was over ten Billion when he screwed up eh???

    ‘A prize for small mercies’ eh?

    We see big holes in Paul Goldsmiths other policies too Martyn; – see this we wrote today.

    “CEAC say National needs to own over truck use causing massive road cost & damages to NZ Highways”

    Political press release – by Citizens Environmental Advocacy Centre.
    20th September 2020

    RNZ article today featured ‘Truck crashes leave Auckland Harbour Bridge hobbled’ clearly shows the massive cost of damages many of our highways drains, bridges and road surfaces by overuse of freight trucks all over NZ as the National Party recklessly ramps up yet more pressure to increase truck use policies during the election to move freight around NZ, when simple switching more freight to rail would benefit us all.

    The irony of Michael Barnett CEO of Auckland Business Chamber is only making things worse by calling for another plan for a tunnel to handle truck transport is poorly thought out, as the cost would exceed $30 Billion and take 10 years to build, and the NZTA senior journey manager Neil Walker said it right, “You can’t build your way out of it forever and we’re going to have to think smarter about how we try and manage demand on the roads, so that’s greater use of the likes of public transport and that sort of thing, particularly around the peak times.”

    CEAC supports Government to ‘balance the freight between rail and road to reduce the high cost of damages to our highways and reduce the Paris climate emissions inventory policies signed by labour, which is now increasing as reported by Oxfam.

    “Oxfam New Zealand says drastic cuts to emissions are needed by the end of the decade if New Zealand wants to play its part in limiting global warming to 1.5 degrees, Marc Daalder reports.
    Oxfam New Zealand has blasted the Government’s emissions reduction target under the Paris Agreement, saying it falls short of being consistent with limiting global warming to 1.5 degrees over the pre-industrial average and places an unfair burden on developing countries, including our Pacific neighbours, to reduce their own emissions.”

    National must get real and deal with Climate change by reducing truck freight firstly and join the global efforts to reduce the effects of climate change as time runs out.

    National’s two serious freight truck advocates Chris Bishop (National’s shadow spokesperson on transport) and Paul Goldsmith (National’s Finance spokesperson) must show leadership if they hope to win over the voters or languish on the opposition benches for years by repeatedly calling for ‘more roads and more roads policy’.

    CEAC has many times on the looming environmental catastrophe approaching us, that National Party has not even mentioned this looming issue yet. This is abysmal;

    CEAC said in our several reviews of National’s ‘lacklustre environmental policies are “abysmal” as none even exist yet, so we encourage National to get real for our climate sake and return increased freight to rail.

  3. is this one of those tricks for new players moment by Paul Goldsmith I mean ffs rookie mistake, the excuses better be good why they stuffed this up. snigger snigger this is going to fuunnnny!!

  4. Haha brilliant.

    Just imagine if this happened to the party that didn’t want a Covid election as they knew they had 0% chance of winning it. Imagine if that same party were desperate to make the election all about the economy as they farcically attempted to sell themselves as the best mo0ney managing party despite there being zero evidence of that.

    The only thing left to do for the party that grossly exaggerates and misrepresents anything the Government ever gets even slightly wrong is to completely minimize this diabolical 4 billion dollar hole that proves yet again that party is not fit to look after a pet hamster, let alone NZ and 5 million kiwis.

    Made my day. Thank you Paul Rustynailsmith.

  5. God awful.
    Not only is the archaic National Party a dinosaur striving for relevance in the 21st Century, it’s become completely derailed serving up insane policy announcements garnished now with some bad tasting incompetence.

    “Strong Team….Better Economy”. Hahahahahahahahahahahahahahaha…………..

  6. National can see holes everywhere except in their own calculations, where they aren’t imagined but actually exist!. Even they admit it!
    Another episode in the continuing saga of a party that has well and truly blown the myth of being the best manager of the economy right out of the water.
    Harrr harr harr!
    Back to original National dog attack strategy most likely.

  7. Goldsmith got a good kicking from Jack on Q&A this morning as well. On this show Paul was dressed as a clown. His circus act was advertised as something new and incredibly fresh: balancing tax cut bribes on plates at the end of a stick on one hand while juggling Covid chainsaws and stimulus on the other. Instead the event was reminiscent of the old political sideshows, politically incorrect and exploitative. Goldsmith was wheeled into the studio so the country could gasp at his grotesque human form. Ringmaster Tame used the whip but there was little sympathy

  8. With the media its all about giving Judith premier coverage. Its like SHE is the current PM the way she gets covered.
    The rebranding hasn’t worked she is as horrible as ever. National they used to say was ” the natural party of government ” its only a 4 billion dollar mistake when its not your money so as Paul said time to move on.

  9. The Judith Collins Horror Show continues……? Paul Goldsmith, who looks like a “Thunderbirds Puppet” from the 1960’s TV Show, can’t be trusted balancing his own Cheque book let alone the Finances of the NZ Govt & Nation! What was Goldsmiths former occupation? It sure as hell wasn’t in FINANCE or ECONOMICS? Maybe he was a Woodwork Teacher like Buffet Boy Jerry Brownlee, or some other nonproductive & equally useless occupation? What a DISASTER the National Party is & its crony, dated Politicians! No ones buying the Neoliberal tripe of National these days! National’s dodgy accountancy, magical thinking & pie in the sky Maths can’t be spinned away by their highly paid, Management Consultants & no ones fooled by their ridiculous Tax cuts for the Rich or their trickledown economics conjob, which aren’t working! Their recent, hopeless, Virtual Campaign launch on Facebook, was embarrassingly laughable attracting a dismal online audience of less than 2000 people & their boomer crowd at their Campaign locations looked old, white & ready for the boneyard? What a joke! Judith & the National Party are increasingly looking like Dinosaurs from a distant era, on their way out too Electoral extinction!


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