The Government has no plan to control inflation

The Finance Minister needs to face up to New Zealand’s cost of living crisis and present a plan to help get skyrocketing inflation under control, Opposition leader Christopher Luxon says.

“Inflation has hit a new 30-year high of 6.9 per cent. It’s a silent thief in your pocket putting Kiwis under massive pressure, and we are seeing a squeezed middle emerge.

“Kiwis are facing the consequences of Labour’s poor economic management, with inflation in New Zealand outpacing Australia’s and many other countries.

“Rents are up $150 a week since 2017, interest rates are rising and wages increases are barely a third of inflation. Kiwis are going backwards under Labour and many families are struggling to make ends meet.

“This is not just an international story. The domestic ‘non-tradable’ element of inflation is the highest on record, at 6 per cent.

“This week the Reserve Bank sent a message that it will need help from the Government to try to get inflation under control.

“Grant Robertson has no plan to help tackle skyrocketing inflation. He must take responsibility for presenting a sensible plan to help combat inflation pressures, reducing costs, removing bottlenecks and ensuring value for taxpayers’ money.

“Instead, at a time when we need careful economic management and spending discipline, he seems intent on pushing ahead with a record $6 billion increase in annual spending in next month’s Budget.

“This is not the time to put fuel on the fire. Instead, Grant Robertson must do his bit to remove inflationary pressure in the domestic economy.”