Parties promise some big spending

The 2014 election has been marked by some big spending promises, the Taxpayers Union says.

The Bribe-O-Meter, operated by Michael Dunn, a former principal economist with the New Zealand Institute of Economic Research, has been published throughout the campaign, but the last update included spending promises by Internet Mana.

Taxpayers Union executive director Jordan Williams said the cost of just three Internet Mana policies was $17.6 billion, higher than the entire policy packages of the three main parties combined.

''Labour leader David Cunliffe is right when he reportedly said Internet Mana are numerically challenged,'' Mr Williams said.

Dr Dunn said forgiving student loan debt, as advocated by Internet Mana, would cost $14.2 billion while the free tertiary education and full student allowances would cost $568 million and $570 million a year respectively.

''We asked Dr Dunn to cost these three policies because Internet Mana just hasn't got the policy detail to enable credible costing of the whole manifesto,'' Mr Williams said. The three policies would cost $17.6 billion over the next three years, or $10,386.84 per household.

Of the rest of the parties covered by the research, the Greens had promised to spend the most - $6.54 billion, or $3857.77 over the next three years.

The Labour Party had committed to a policy programme worth $5.81 billion, or $3423.16 per household and National had committed to $1.4 billion, or $823.62 per household of new spending.

Act New Zealand was the only party promising to cut existing spending.

Act's planned cuts were worth $11.67 billion, or $6875.60 per household.

Mr Williams said the only new spending promised by the Conservative Party related to its ''tough on crime'' policies.

Dr Dunn calculated those policies were likely to cost $400 million, or $235.88 per household.

United Future remained steady and appeared not to have announced new spending policies during the campaign.

Leader Peter Dunne's changes to superannuation and KiwiSaver would cost $2.12 billion, or $1252.51 per household.

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