INDEPENDENT NEWS

Interest Rates Freeze Shows Need To Take An Axe To Government Waste

Published: Wed 10 Jul 2024 02:21 PM
The Reserve Bank of New Zealand has once again held the Official Cash Rate (OCR) at 5.5%. Commenting on this, Taxpayers’ Union Policy and Public Affairs Manager, James Ross, said:
“Sky-high interest rates are punishing Kiwi families and stunting economic growth. New Zealanders will keep getting relatively poorer until the OCR starts coming down, so the Government needs to be doing much more to get the inflation genie back into the bottle.
“The Government needs to get serious about slashing wasteful spending, but so far it’s done anything but. More spending, a bigger deficit and heaps more debt were the name of the game in May’s Budget.
“People demanded a return to sound financial management at the ballot box on 14th October. Kiwis’ wallets are squeezed, and this Government needs to give people what they voted for.”

Next in New Zealand politics

Pacific Futures - Winston Peters' Speech Delivered At The International House Of Japan, Tokyo
By: New Zealand Government
Climate Change Minister To Attend Climate Action Meeting In China
By: New Zealand Government
PHINZ Opposes Insulation Standards Rollback, Advocates For Effective Building Standards
By: Passive House Institute New Zealand
Fonterra Exposed As Major Player In Global Attempts To Undermine Climate Action
By: Greenpeace
Hundreds Expected At Napier March For Nature
By: Papatuanuku Rising
Funding To Support Use Of NZ Sign Language
By: New Zealand Government
View as: DESKTOP | MOBILE © Scoop Media