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Eleven months in and it looks like no-one is happy

The Government has ignored slumping business confidence since it took power but will struggle to explain away signs that ordinary New Zealanders are becoming downhearted after 11 months of this coalition, National’s Finance spokesperson Amy Adams says.

“Consumer confidence is at its lowest level in six years and every single indicator in the Westpac consumer confidence index has declined.

“New Zealanders are feeling less confident about their own finances and the economy as a whole, and they’re less certain now is a good time to make big purchases.

“There’s nothing in that drop in sentiment that suggests anyone is convinced by the Government’s repeated use of one of its favourite buzzwords – ‘well-being’.

“Westpac says the Government’s families package ‘appears to have been outweighed by other concerns in most consumers’ minds’.

“The Government doesn’t seem to realise its policy decisions have an impact in the real world, which is highlighted by this survey. Consumers have no confidence in the economic policies and management of the Government.

“There’s too much at stake to have a coalition Government learning on the job. Its anti-growth policies are having a real effect on how people view the economy which in turn affects how they behave within it.

“It means businesses are less likely to hire new workers, increase wages and invest. And consumers are less likely to spend as they fear the good times are coming to an end.

“National believes in sensible, stable economic policies. That’s the best way to create jobs, raise incomes and make New Zealand a nation where everyone has opportunities to get ahead.”

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