Thursday, 12 May 2022

Cost of living crisis continues to bite

“The cost of living crisis is continuing to hurt Kiwi families as grocery prices continue to rise,” says ACT Leader David Seymour.

“Figures released today by Statistic New Zealand show the price of meat is up 8.1 per cent, vegetables are up 9.4 per cent and groceries were up 6.4 per cent overall.

“Kiwi families are being squeezed from every direction. A meal of meat and vege is getting more expensive by the month.

“This is a direct response to Labours relentless borrowing and spending. This year is the year of the hangover. New Zealanders are now feeling the effects of our lock ‘em down, lock ‘em out, borrow, print and spend approach to COVID-19.

“Labour bought into the delusion that sealing ourselves off from the world for two years would cost us nothing. If the economy seems buoyant, it’s only because of enormous borrowing propped up by artificially low interest rates – that’s now pushing up the price of everything.

“ACT’s alternative budget, the Real Change Budget, would see every New Zealander receive tax relief. It’s the opposite to Labour’s approach of taxing people they don’t like and giving handouts to others.

“ACT would create a two-tier tax rate system where anyone earning $70,000 and under would be taxed 17.5 per cent and those earning above would be taxed 28 per cent. This would restore fairness and reward the workers.

“We’d also cut wasteful spending, bringing the public service back to the size it was in 2017, reducing budget allowances and scrapping funds that let politicians pick winners for photo ops.

“It’s time for real change and for Kiwis not to have to worry about putting meat and vege on the table.”