Mortgage Holders Pay The Price For Reckless Government Spending
November 23, 2022
PHOTO: New Zealand Taxpayers' Union
“The Reserve Bank has been forced to put up the Official Cash Rate because of its failure to keep inflation below 3%.
“The extremely high levels of inflation we are facing are in no small part down to the double whammy of reckless Government spending that went well beyond what was necessary to respond to the pandemic and the Reserve Bank’s own money printing programme that is already forecast to cost the taxpayer billions in losses.
“Government tax revenues and expenditure are at record highs. The Government urgently needs to reign in its addiction to excessive spending and bring expenditure back down to pre-pandemic levels at the very least. New Zealanders cannot continue to afford this toxic combination of high taxes and high inflation.”