Labour’s Fiscal Fraud

Labour’s so called fiscal plan is a fraud. First here is what Barbara Edmonds said on Newstalk ZB:

Well, for example, a choice that we would not make is $300 million for a tobacco excise tax cut. Okay. That means there is $300 million more that is a choice. So only $12.7 billion more to find? 

This is a lie. The actual cost of a 50% reduction in excise tax on heated tobacco products has been $2.25 million, not $300 million. That is actual hard data. So Labour’s Finance Spokesperson is out by a factor of 100, in her finances.

This is beyond dishonest.

Their fiscal plan shows $365 million of revenue from removing the 50% discount on heated tobacco products. The actual revenue it will bring in is $2.25 million a year.

On top of that whopper, Nicola Willis has also found $16 billion of other spending they have forgotten to include.