Labour score own-goal with $6,000 claim

“I admire Labour’s bravery trying to claim the cost of living was better when they were in charge, but anyone who looks at the most basic figures will see they’ve scored an own-goal,” says ACT Leader David Seymour.

“Labour have tried their best to paint a picture of prices rising faster under the Coalition than under the Labour Government. However anyone can check the Reserve Bank’s inflation calculator to find the truth.

“From 2020-2023, inflation totalled 19 per cent. From 2023 until now, inflation has been eight per cent. Figures for the last two quarters of 2026 are not available yet but will not save Labour from an own-goal. At four per cent inflation, it is possible the cumulative rate will rise to 10 per cent, still roughly half Labour’s three year inflation.

“In reality Labour created the cost-of-living crisis, the Coalition has got it back under control. The main reason people are paying high prices today is because those prices rose so much under Labour.

“Labour’s own-goal also gives us the solution to the cost of living crisis. It is Government costs that have blown out and are costing New Zealanders. Controlling the cost of living starts with Government managing its own costs.

“ACT is campaigning to balance the books with no new taxes, and take tax off KiwiSaver returns so people can save for retirement faster, and see those savings last longer in retirement.”

Note to Editor: These figures are Q4 2020 through Q4 2023, and Q4 2020 through Q2 2026. The last two quarters of 2026, are not available yet, but it is highly unlikely inflation will reach half the 19 per cent under Labour.