Give us a break: Inflation figures demonstrate need for tax relief and public spending restraint

Commenting on today’s inflation figures announcement, Taxpayers’ Union Campaigns Manager, Callum Purves, said:

“The overall rate of inflation remains stubbornly high despite an aggressive tightening of monetary policy by the Reserve Bank. The fact that non-tradable inflation is at its highest level since the series began demonstrates that the problem is primarily being driven domestically.

“The double whammy of rising interest rates and high inflation is compounding the hardship already facing Kiwis. The Government says that the cost of living is its top priority but it needs to take its share of the blame for getting New Zealand into this mess with its profligate spending.

“Grant Robertson has an opportunity for a proper reset in next month’s budget. He should give Kiwis a reprieve by compensating them for the effects of income tax bracket creep at least since Labour came to power while dramatically slashing wasteful spending, including the ballooning budget for consultants, Three Waters and Auckland Light Rail.”