It’s productivity, productivity, productivity

Stuff reports:

Stronger productivity growth and structural economic changes are the only ways to deliver lasting gains in purchasing power for New Zealanders, according to the Reserve Bank.

While monetary policy can anchor prices through low and stable inflation, it cannot make the country more affordable on its own.

This is absolutely correct. You can’t legislate higher standards of living.

To achieve this, the central bank lead economist called for evolving structural policies that encourage competition, innovation, investment, and global engagement.

I can just imagine all the Labour/Greens/Te Pati Maori policies that will encourage innovation and investment!