Saturday, July 20, 2024

New Prime Minister, same problems


We might have a different Prime Minister, but after a month in the job, we have the same failed approach on the economy. More spending, higher taxes, and no relief for many Kiwi families facing the cost-of-living crisis.

Interest rates were hiked for the tenth time in a row, which will be deeply concerning for Kiwis already struggling.

With wages not keeping up with prices, rapidly climbing mortgage costs will leave many families falling further and further behind, with some having to find hundreds of extra dollars a week to meet their payments.

Not only have interest rates increased, but this year already we have seen the highest annual increase in food prices in more than 30 years.

Many New Zealanders will be having to think twice before hosting their friends and family for dinner or a BBQ, with the cost of meat increasing by 11 per cent in the past 12 months, and fruit and vegetable prices increasing 23 per cent.

Kiwis can’t escape this cost-of-living crisis. Everywhere they turn they are facing mounting costs putting pressure on their household budgets, making it tough for them to get ahead.

New Zealand deserves a government that can deliver a strong economy that gives more opportunity for investment in better public services, like education, healthcare, and housing, and helps support those who need it.

Unlike Labour, National has a plan to fight inflation. We will restore discipline to Government spending, reduce unnecessary costs to businesses, get rid of the bottlenecks in the economy, inflation adjust tax brackets so Kiwis can keep more of their own hard-earned money, and focus the Reserve Bank on reducing inflation.

Because NZ Super is indexed to the average after-tax wage, superannuitants would also benefit.

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