Homeowners have Clark to thank for high interest
Homeowners have Clark Government to thank for high interest rates
Thursday, 27 October 2005
Press Releases - Economy
ACT leader Rodney Hide said Kiwi homeowners are having to pay through the nose for the Clark-led government.
"They're over-taxed, and are paying crippling interests rates. The interest rate hike today is the eighth since the beginning of last year. The Reserve Bank has hiked the Official Cash Rate from 5% in January 2004 to 7% now. That's a 40% increase.
"The reason for the hikes is simple enough - excessive government spending.
"Clark needs to get spending under control, interest rates down and real tax relief for hard working New Zealand" Mr Hide said.