Has Labour burned off Winston?

With the announcement of Labour’s savings and superannuation policy they are basically showing that they are willing to burn off Winston with their plan to raise the retirement age.
The devil of course will be in the detail. Certainly there is precious little of that other than nothing is going to change for at least 6 election cycles. Labour’s promise is as hollow as their promises for tax cuts.

As we now know this won’t take effect for years, so Labour is still left with a huge hole in their numbers over the next few years. A $16 billion hole.

It still means billions more in borrowing at the time debt is the last thing anyone wants. Sure National is borrowing, but Labour will borrow much, much more. $16 billion more.

I want to see the detail, including their spending tracks, before I’d believe a word of what they’re saying. In fact a welcome change would be to see political aprties produce independently audited and costed spending plans. Larry Williams mentioned this on NewstalkZB on Friday night and it is something I agree with.

Still I wouldn’t be holding your breath though, details are not something Labour’s strong on when it comes to tax policy. I xpect they will have to announce an Expert Panel to deal with it all.

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