New Zealand will begin handing out millions of checks to citizens in an attempt to fight inflation, despite increasing government spending.
The plan to combat inflation by increasing government spending was criticised by the leader of the opposition, Christopher Luxon of the New Zealand National Party, who argued that tax cuts would help more people than handing out checks.
“With inflation at a 30-year-high and prices running laps around wages, Kiwis are experiencing the worst cost of living crisis in a generation. The forecasts today show inflation is rampant for years to come,” Luxon“More and more Kiwis are falling behind each week, squeezed by growing costs and a Government that refuses to offer them meaningful income tax relief while ramming through the biggest spend-up in New Zealand history.
“Not content with a $6 billion spending spree, they’ve also raided future budgets – spending $2 billion from Budget 2023 and $0.4 billion from Budget 2024. And that’s before you count climate spending and the cost of living bandaid – which are on top.” Luxon went on to warn that the government’s “spending addiction” will mean that the economy will be sent spiralling “backwards”.that New Zealand may be facing a recession, with the country’s central bank warning that there is a danger that the “wheels well and truly fall off” of the economy and plunge into negative growth.
The checks will also come as the Ardern regime in Wellington is set to finally loosen border restrictions in July, after two years of the country being essentially cut off from much of the outside world during the Chinese coronavirus crisis.
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