Responding to the 0.25% hike in the official cash rate, New Zealand Taxpayers’ Union spokesman Louis Houlbrooke says:

“Higher mortgage rates are set to squeeze the budgets of households already hammered by rising living costs.”

“The Reserve Bank is, rightly, independent, but that doesn’t mean that the Government is powerless to stop the price squeeze for Kiwis.”

“The Government could give households financial breathing space by pulling back fuel tax excise, or by updating our out-of-date income tax brackets.”

“Grant Robertson has already enjoyed a revenue bonanza thanks to inflation – it’s time he gave households a break.”

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