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'Skyrocketing food prices mean game over for ‘inflation comes from overseas’ tripe'

Contributor:
Fuseworks Media
Fuseworks Media

"The Government’s argument that New Zealand’s rampant inflation isn’t caused by their irresponsible spending has gone up in smoke as food prices have recorded their highest annual increase in the last decade," says ACT Leader David Seymour.

"Food prices on average have increased by 7.6 per cent in the last year, fruit and vegetables in particular have exploded by 18 per cent and meat, poultry and fish has gone up 8.7 per cent.

"New Zealand is a food superpower. New Zealand farmers grow enough food for eight times our population. If there’s a global supply chain problem, it would make food in New Zealand cheaper because we can’t export it. Fish and berries that can’t be flown to Singapore end up on the local market.

But the Government’s war on businesses and relentless borrowing and spending has fuelled domestic inflation that has crept into our most productive sector. Inflation is too much money chasing after too few goods, and this Government has borrowed, printed and spent too much money.

"Grant and Jacinda are so focused on the PR spin around cost of living and blaming global events like the war in Ukraine that everyday New Zealanders who are struggling to make ends meet are getting forgotten. They deserve straight talk and common-sense solutions rather than disingenuous spin designed to distract from the mess they’ve created.

"Economics 101 shows that when costs increase they will be passed on to the consumer, and Kiwis are feeling this at the grocery shop, the fuel pump, the increasing cost of rent and mortgages, and even in retail shopping.

"It’s time to stop wasteful spending that pumps money into the economy without producing goods and services to buy. Too much money chasing too few goods means inflation.

"We need real change. That means reducing tax, bureaucracy and waste, and maximising opportunity.

"ACT would cut the 30 per cent income tax rate to 17.5 per cent. We would lower the barriers to employment and make it easier for small businesses to hire. Our regulatory reforms would ease the burden on farmers. Our plan for infrastructure and housing reform would get New Zealand moving again."

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