ACT condemns new reserve bank target
ACT CONDEMNS NEW RESERVE BANK TARGET
planning extra inflation is the government condoning a loss
of income for savers and wage and salary earners, ACT leader
Richard Prebble said today.
“Already for savers the after
tax and inflation returns of bank deposits are
“Salary and wage earners have never received a
wage rise in anticipation of price rises.
beneficiaries of extra inflation are property speculators
and the government which receives extra income tax from
higher nominal wages and extra GST from inflated prices.
“The real loser will be the country,” Mr Prebble said.
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