Net core Crown debt, % of GDP
Under Labour, net government debt went from 21.6% of GDP to 38.7% of GDP, up 17.1 points (2.8 a year).
2016/17 to 2022/23Under National so far, net government debt went from 38.7% of GDP to 41.8% of GDP, up 3.1 points (1.6 a year).
2022/23 to 2024/25, so farShow the figures
| Government | Period | Value |
|---|---|---|
| Labour, 2017 to 2023 | 2016/17 | 21.6% of GDP |
| Labour, 2017 to 2023 | 2017/18 | 19.5% of GDP |
| Labour, 2017 to 2023 | 2018/19 | 18.6% of GDP |
| Labour, 2017 to 2023 | 2019/20 | 26.2% of GDP |
| Labour, 2017 to 2023 | 2020/21 | 29.7% of GDP |
| Labour, 2017 to 2023 | 2021/22 | 35.2% of GDP |
| Labour, 2017 to 2023 | 2022/23 | 38.7% of GDP |
| National, 2023 to now | 2022/23 | 38.7% of GDP |
| National, 2023 to now | 2023/24 | 41.8% of GDP |
| National, 2023 to now | 2024/25 | 41.8% of GDP |
Per-year figures allow for the terms' different lengths.
Financial years are attributed by year in office. 2023/24 began under Labour's Budget 2023.
Source: The Treasury (New Zealand), Fiscal Time Series – Historical Fiscal Indicators.
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