Save the Kiwi (dollar) with ACT’s cost of living plan

“Reports in the NZ Herald today show that financial market commentators fear a Labour/Green Government could weaken the Kiwi dollar and drive up living costs. The best way to save the Kiwi dollar, is to Party Vote ACT,” says ACT Leader David Seymour.

“I warned of this possibility in a speech one month ago. Political uncertainty, reckless spending promises and threats to successful businesses are undermining confidence in New Zealand and our currency.

“A weaker Kiwi dollar would be fuel on the cost of living fire. It would push up petrol prices and the cost of imported goods. New Zealanders struggling with the cost of living can’t afford another source of inflation.

"It’s not just the markets that are worried. On Big Pinky’s North Island road trip, we’ve heard from people who are working hard but finding it harder to get ahead. Meanwhile they keep hearing other parties preaching the causes of inflation as election policy - higher spending, intervention, and debt for future generations.

“Threats to break up successful New Zealand businesses or set up soviet-style Government run competitors sends a terrible message to investors. ‘Come to New Zealand, build a successful business, and politicians might decide to carve it up.’ ACT has rejected political interference that scares away investment and undermines confidence in New Zealand.

“ACT has released a fully costed fiscal plan proposing $22 billion in savings over four years. It would balance the books sooner without new taxes and leave debt $12.4 billion lower than current forecasts by 2031.

“Balancing the books is the first priority, but we also have policies to address the costs New Zealanders face every day, without increasing debt or adding new taxes.

“On groceries, ACT will make it easier for new supermarkets to open through a one-stop consenting shop. We'll recognise food labels from trusted overseas regulatory systems, reducing unnecessary costs for international competitors entering New Zealand.

“On electricity, ACT will encourage more investment in generation and networks, remove unnecessary barriers to solar power, and allow households to sell surplus electricity to whoever offers the best deal.

“On petrol and other costs affected by climate policy, ACT will remove the artificial carbon auction price floor and return net Emissions Trading Scheme auction revenue to New Zealanders through a Carbon Tax Refund.

“We'll make school uniforms more affordable by limiting compulsory branded items, make Student Services Fees voluntary, and encourage investment in rental housing by ending loss ring-fencing for future rental losses.

“ACT will also make it more rewarding to save for the future by removing tax on KiwiSaver earnings. That could mean $1,000 a year in tax savings for a retiree or, for a 20-year-old earning $60,000, around $209,000 more in KiwiSaver by retirement.

“ACT's plan balances the books with no new taxes and leaves debt $12.4 billion lower than forecast by 2031, leaving more in Kiwis' pockets, more to invest where it matters, and helping to keep inflation under control.”