Nicola Willis Must Tackle Cost Of Living At Next Week’s Budget

Commenting on the Reserve Bank of New Zealand holding the Official Cash Rate (OCR) at 5.5%, Taxpayers’ Union Policy and Public Affairs Manager, James Ross, said:

“Sky-high interest rates and the soaring price of household essentials continue to punish Kiwi families, and that won’t change until reckless and inflationary government waste is brought to heel.

“35 months and counting of inflation outside the target range keeps eating away at what’s left of Kiwis’ purchasing power, after 14 years of bracket creep has already left them paying $49 a week more in income tax than they were in 2010.

“Treasury’s recent revelations that New Zealand has a structural deficit prove the government can’t keep borrowing to pay for more waste. The last Finance Minister might’ve been happy to look the other way, but struggling Kiwi families need Nicola Willis to get the books back in the black.”

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