Commenting on today’s announcement that GDP grew 0.2 percent in the June quarter, Taxpayers’ Union spokesperson Austin Ellingham-Banks said:
“0.2 percent growth is better than contraction, but after 0.8 percent last quarter it is a sharp slowdown. With population growing 0.17 percent over the quarter, GDP per person was effectively flat.”
“International shocks have clearly played a part, but that makes domestic discipline even more important. Continued high government spending absorbs resources that could otherwise support the productive economy.”
"Higher taxes and more borrowing will only make stronger growth harder. That means politicians promising tens, or even hundreds, of billions in new spending, as tracked by our 2026 Bribe-O-Meter, need to explain how they will pay for it."
The Taxpayers' Union's 2026 Bribe-O-Meter can be found at www.taxpayers.org.nz/bribe_o_meter.
Weak GDP growth requires fiscal discipline
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