MikeB4:
The debt cannot be taken on it's own. It needs to be compared to growth rate and debt/GDP ratio. When looking at the previous governments borrowing events over the time need to be taken into account such as four major earthquakes, significant flooding events and a global financial crisis. There is the matter also of past deferred infrastructure expenditure and capital works.
The Debt/GDP ratio increased from 5.5% to over 34% between 2008 and 2017.
See my previous post about the cost of the earthquakes, floods, and the GFC. These costs combined total between 10 - 15 billion to the government between 2008-2017. What previous 'deferred infrastructure expenditure' did the National government pay for?
They had their policy for 'roads of national importance' and that was about 10 billion, but that wasn't catching up on deferred infrastructure expenditure was it. This was a new pet project, principally designed as a 'see we're doing something' vote catching pet project.
Oh and the tax cuts that had to be paid for...