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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