The Finance Minister must urgently front-up about New Zealand’s precarious financial position and respond to reports of an enormous hole in the Crown finances, National’s Finance spokesperson Nicola Willis says.

“There are now widespread leaks and reports suggesting the Labour Government is in financial panic mode.

“It’s alleged that New Zealand’s rapidly declining financial situation is now so much worse than forecast in the Budget, that Grant Robertson has instructed Public Service leaders to batten down the hatches and desperately dig up major savings to help cover-up a growing crevasse in the government books.

“The Labour Government has sprayed the public money-hose with such wild abandon that New Zealand’s Crown finances are now teetering on the edge.

“This is Labour’s mess and Grant Robertson’s last-minute clean-up job is far too little, far too late.

“At every opportunity the Labour Government has resisted the need to instil financial discipline and fiscal rectitude.

“Now the cupboard is bare.

“If these reports are true, this is beyond politics now. Mr Robertson must front-up up on the real state of the books or resign. A major deterioration in New Zealand’s fiscal position would have a massive impact on taxpayers, the economy, and the public services Kiwis rely on.

“National is ready to manage the economy in the interests of all New Zealanders. We have a plan to fix the economy, beat inflation, and get New Zealand back on track.”