Labour would have you believe our high inflation is all due to international factors. But the reality is that Labour’s own policies are contributing to inflation and tighter household incomes. Have a look at the PM’s speech in January.
- New requirements for rental properties pushes up rents and hence inflation
- The car feebate scheme pushes up the costs of most cars and hence inflation
- The ban on gas exploration has pushed up electricity costs (we now have to import coal more) and hence inflation
- The immigration restrictions pushes up costs for employers unable to recruit and hence inflation
- The Fair Pay Agreements will push up staff costs for entire industries and hence inflation
- The unemployment insurance scheme will see after tax wages drop by up to $1,800 a year
And that is before one even looks into the macro impact of borrowing and printing billions of dollars to fund their overall spending.