Homeowners have Clark to thank for high interest
Thursday, 27 October 2005, 11:29 am
Press Release: ACT New Zealand
Homeowners have Clark Government to thank for high interest
rates
Rodney Hide
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.
ENDS
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