NZ Did government debt grow faster under Labour or National?
Government debt grew by about 3 points of GDP a year under Ardern and Hipkins' Labour government, and about 2 points a year under Luxon's National government.
Updated
Labour under Ardern and Hipkins: up 17.1 points (21.6% to 38.7%), about 2.8 a year. National under Luxon: up 3.1 points so far (38.7% to 41.8%), about 1.6 a year.
Labour under Ardern and HipkinsNational under Luxon
Show the figures
Period
Net core Crown debt, % of GDP, change in points (points per year)
National under Luxon
2 points
Labour under Ardern and Hipkins
3 points
Full data and downloadsGovernment debt grew by about 3 points of GDP a year under Ardern and Hipkins' Labour government, and about 2 points a year under Luxon's National government. Labour under Ardern and Hipkins: up 17.1 points (21.6% to 38.7%), about 2.8 a year. National under Luxon: up 3.1 points so far (38.7% to 41.8%), about 1.6 a year.
Both faced big shocks: the global financial crisis and the Canterbury earthquakes, then COVID-19.
Ardern and Hipkins' years include COVID-19. Debt has kept rising under National, more slowly.
