Westpac’s latest consumer confidence survey result is a massive vote of no confidence in the Government’s approach to economic management, National’s Finance spokesperson Nicola Willis says.

Westpac’s McDermott-Miller consumer confidence survey for the June quarter showed consumer confidence at 78.7 – the lowest level since the survey began in 1988.

“The Government has no plan to address the cost of living crisis or grow the economy. The result is that Kiwis are more anxious about their economic prospects than at any time since 1988.

“A real economic plan would target workforce shortages and reduce costs on business. Instead, Labour is planning a Jobs Tax, a massive bureaucratic restructuring of the health system, and $38 billion more Government spending over the next four years despite runaway inflation.

“Grant Robertson remains in denial and keeps blaming international factors. The truth is New Zealand is performing worse than many countries.

“In the past year we have dropped eleven places in the IMD Global Competitiveness survey. We have now fallen behind Australia, with the report writers highlighting ‘short-term policy thinking’ as part of our problem.

“Labour urgently needs to deliver a plan to address the cost of living crisis and to grow the economy. Until they do, Kiwis will keep going backwards.”

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