“Today’s OCR cut is more relief for New Zealand households – and proof that fiscal discipline works,” says ACT Leader David Seymour.

“Reserve Bank data show mortgage rates have been dropping under this Government. That means households refixing on lower rates, keeping more of their own money to spend on what matters to them.

“But this didn’t happen by accident. To get interest rates down, we had to get inflation under control. And to get inflation under control, the Government had to join households in cutting its cloth.

"When the government wastes less, the people eat more. A typical family is now saving $398 every fortnight compared with when we came into Government.

“That’s what ACT has driven – focusing spending on fixing what matters in health, education, and law and order, while cutting back in other areas so cost-of-living relief can flow through to families, farms, and firms.

“ACT will keep pushing for further restraint, because every dollar Government saves today is another dollar of inflationary and interest rate pressure reduced tomorrow.”

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