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Merry Christmas, Mr Bollard!

Merry Christmas, Mr Bollard!

Rodney Hide Thursday, 8 December 2005 Press Releases - Economy

ACT Leader Rodney Hide today said New Zealand was in the worst of all worlds, following the Reserve Bank's latest increase in the Official Cash Rate.

"We now have high taxes, high regulations, and high interest rates," Mr Hide said.

"That's the result of years of Michael Cullen's mismanagement. The final kick in the guts for Christmas is Reserve Bank Governor Alan Bollard hiking the Official Cash Rate another 25 basis points. That's the 9th rise in two years.

"The economy is now in for a hard landing. Michael Cullen squandered the good years he inherited with shockingly bad policy - now it's every kiwi family and business that's paying the terrible price.

"We need government spending under control, lower taxes, and a clean out of red tape and excessive regulation. That's the Christmas present a good government would give New Zealanders," Mr Hide said.


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