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Taxpayers' Union Responds To OCR Hike
Responding to the Reserve Bank's first OCR hike in seven years, New Zealand Taxpayers' Union spokesman Jordan Williams says:
“Today’s OCR hike - which will see households squeezed with hire mortgage payments, is a direct result of the Government’s reckless spending over the last 18 months. Even worse, with COVID’s economic shock now coming, it comes at the very worst time for households.”
"The Government needs to do all it can to focus on quality, not quantity, of spending. Its programme of money-printing and borrowing for political purposes has pumped up inflation to unacceptable levels and left future generations of taxpayers with a debt monster. Higher interest rates will increase the financial pain caused by that debt.”
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