Monday, July 21, 2008

Cost of Labour's 2008 Election bribes

I thought it would be very interesting to see the cost of Labour's election bribes so far.

A good concise list of what it is they are spending the money on, and how much it will cost the working taxpayer.

Some of it might be legitimate, some of it bordering on legit but most will be out and out handouts to prospective Labour voters.

Lets take a look.

1. KiwiRail purchase - cost NZ $665 million, plus hundreds of millions to "upgrade it" and keep it running. Altogether, including missed economic growth from keeping the money in taxpayers hands, $2 billion plus. Election bribe.

2. $10 billion in "tax cuts" mostly focused on those on welfare-working for families -and at an average of $16 per person hardly worth legislating for. Election bribe.

3. Increase in working for families-$200 million plus per year, 600 million over a 3 year term. Election bribe.

4. 1.7 Billion in lost capital value for Auckland International Airport shareholders because Labour stopped the sale of this private asset to buy votes. Election bribe.

5. Corporate welfare for research and development, cost $700 million. Election bribe.

6.Universal student allowances. Cost $728 million. Mooted but it will go ahead. Election bribe.

7. South Auckland "University". Cost, $25 million to purchase land and hundreds of millions more to develop. Not needed as Auckland already has 4 universities. Election Bribe.

8. Mt Eden Prison, Cost, well north of $250 million and unnecessary. Bunk beds will do. Election bribe.

Other costs with some merit but nonetheless some of the better ones could have been done earlier in Labour's term.

* $750 million in new health spending (includes first year of $160 million announced over weekend for elective services).

* $621 million in total over five years to boost Ministry of Foreign Affairs and Trade.

* $446 million over four years to boost funding for community organisations.*
* $164.2 million over five years for a cervical cancer immunisation programme.

* $150 million a year on educational changes to keep young people in school or training until they are 18.

The cost so far to the taxpayer?

Just over $18,000,000,000.00 , that is Billion with a capital B folks. You will have to pay this out of your taxes should Labour buy their way into power.

Keep checking back. I will update this list as the election grows nearer and Labour gets more desperate and disparate.

Related Political Animal reading

At least Robin Hood was honest
Labour's State control out of control

c Political Animal 2008

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