The economy is growing, but so too are the headwinds

“Today’s Statistics NZ release of GDP growth of 0.8% for the first quarter of 2025 is welcome,” says Taxpayers’ Union spokesperson Tory Relf.

“However, recent domestic economic indicators are showing a marked slowdown in the economy, with the BNZ describing the economy as ‘hitting a Q2 brick wall.’ Concerns about rising inflation are growing, which may slow the pace of further easing of monetary conditions.”

“The Government cannot rely on the Reserve Bank to reduce the official cash rate at a pace that will further stimulate the economy. The Government must change its fiscal stance by reducing expenditure. Whilst reprioritising expenditure may provide value, it is difficult to understand how further subsidies for movie moguls is a good use of scarce taxpayers’ funds. The Government must look harder at the programmes it is funding and delete those that provide little value.”

"Budget 2024 was a missed opportunity for growth; Budget 2025 looks wholly irresponsible."