Labour is failing the squeezed middle with new ANZ data showing consumer confidence has collapsed to the lowest on record, National’s Finance spokesperson Nicola Willis says.

“It’s no surprise that Kiwi families are feeling the pinch. The cost of living crisis is affecting everyone, but Labour’s April 1 changes do absolutely nothing for the squeezed middle.

“And Kiwis expect they’ll keep falling further behind under Labour. As ANZ has said today, things have gone from bad to worse.

“The net number of households who believe they will be better off in the next year has fallen to a record low. Inflation expectations at 6 per cent are well above the Reserve Bank’s target range of 1-3 per cent.

“With a majority of households now saying it’s a bad time to buy a major household item, it’s clear Labour’s economic mismanagement and failure to provide tax relief to the squeezed middle is making life harder and harder for Kiwi families.

“Labour should urgently back National’s plan for tax relief. Under our plan, a family with two earners on $60,000 each a year with two teenagers would receive $1600 in tax relief.

“Every dollar counts in a cost of living crisis. But Labour has forgotten about the squeezed middle.”