Parties must show spending restraint as Reserve Bank holds fire

Responding to the Reserve Bank’s decision to hold the Official Cash Rate at 2.75 percent, Taxpayers’ Union spokesperson Tory Relf said:

“An OCR hold gives mortgage-holders a breather, but the trend is still upwards. It is no excuse for politicians to loosen the purse strings with election promises.

“The Government needs to do its share to bring inflation under control. That means cutting wasteful spending, getting borrowing under control, and delivering a credible path back to surplus.

“The Bribe-O-Meter shows all parties but one looking to ramp up spending. Taxpayers cannot afford another election spending spree that leaves them facing higher taxes, higher inflation, and higher interest rates.”