“For all of Chris Hipkins’ talk of a policy reset and ‘bread and butter’ issues, the latest ANZ-Roy Morgan Consumer Confidence survey shows that people just aren’t buying it,” says ACT Leader David Seymour.

“The document states: “Perceptions of current personal financial situations fell 10 points to -30%. That’s the lowest since 2008 as the cost of living bites.”

“It’s not surprising, Hipkins’ changes have been superficial, and he can’t assure people that he won’t borrow more money and drive inflation further.

“With a costly rebuild on the horizon, all signs are pointing to the Government choosing to borrow m more money rather than reprioritise its own spending. Consumers know this means stronger inflation for longer.

“This was one of the first tests of his credibility and he has failed. Like previous Labour leaders, his instinct is to borrow and spend which is inflationary.

“Labour will say the drop in consumer confidence is the result of the floods. It’s not because of the floods, it’s because Labour has no idea how to deal with them that won’t trigger more inflation."

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