Latest / Early Edition with Ryan Bridge / Ryan Bridge: the treasury's told us what we knew all along

Transcript

Ryan Bridge: the treasury's told us what we knew all along · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: The sixty six billion dollar question hanging over Labour's head
• 0:04
  Speaker 1: has been answered. This new Treasury report tells us pretty
• 0:07
  Speaker 1: much what we already knew about Labour's COVID response. They
• 0:10
  Speaker 1: went too far. They spent like drunken sailors. They made
• 0:13
  Speaker 1: it rain dollar bills, and then Treasury said, hey, hey,
• 0:18
  Speaker 1: heyy pullback, pullback, And what did they do. They didn't
• 0:22
  Speaker 1: listen and they kept on spending. COVID was the most
• 0:25
  Speaker 1: expensive economic event this country. Seeing the government splashed out
• 0:29
  Speaker 1: sixty six billion, which is twenty percent of our GDP.
• 0:33
  Speaker 1: And guess how much of that went on specific pandemic
• 0:37
  Speaker 1: healthcare costs eighteen percent, one eight The rest of it, well,
• 0:44
  Speaker 1: they just kept spending. Forget the Nigerian prince. This is
• 0:47
  Speaker 1: the biggest scammed hit Kiwi Shaws in a very long time.
• 0:50
  Speaker 1: They spent money the COVID fund money on things like
• 0:53
  Speaker 1: school lunches and art therapy programs. The report tiptoes around it,
• 0:58
  Speaker 1: but the clear inference is Labour went too far pulling
• 1:01
  Speaker 1: the fiscal lever. The Reserve Bank should be using monetary
• 1:05
  Speaker 1: policy to do the bulk of the heavy lifting in
• 1:07
  Speaker 1: future events. And at the same time, this report lands
• 1:11
  Speaker 1: on our lapse like a thud, like a ton of bricks.
• 1:14
  Speaker 1: Chrishipkins was in Queenstown yesterday chatting about the policies they
• 1:18
  Speaker 1: don't have but will probably have going into the election.
• 1:21
  Speaker 1: Guess what's on the menu. A capital gains tax, probably
• 1:26
  Speaker 1: more government spending definitely, and talk that the Treasury imposed
• 1:31
  Speaker 1: safe debt cap could be increased, so debt, tax and spend.
• 1:37
  Speaker 1: People may not like Christopher Luxen's delivery of this message.
• 1:41
  Speaker 1: It greats people at the moment, you can sense it,
• 1:45
  Speaker 1: but you can't hide from the fact that those guys
• 1:48
  Speaker 1: as in labor screwed the pooch, and the pooch if
• 1:52
  Speaker 1: they were to get back into power best be preparing
• 1:54
  Speaker 1: for more screwing. For more from early edition with Ryan Bridge,
• 1:59
  Speaker 1: listen live News Talks it'd be from five am weekdays,
• 2:02
  Speaker 1: or follow the podcast on iHeartRadio.