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Business The Biggest Loser
Business The Biggest Loser
The Reserve Bank is on the track it is because the expenditure controls that should have been put in place by local and central government were not put in place a year ago.
“We are now in the situation of waiting to see whether New Zealanders or Government change behaviour to stop spending – I somehow think they wont”, says Auckland Chamber Chief Executive Michael Barnett but we wont know until next year (not next month).
Imported goods will become cheaper fuelling spending, and the high interest rates will continue to make NZ attractive for non productive areas of the economy.
The biggest losers are entrepreneurial exporters who will lose on two counts – higher interest rates on the money required for business development and the high interest rate reducing returns.
ENDS
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