Source: New Zealand Labour Party
The National Government’s decisions have hindered, not helped the economy.
“GDP figures released today show our economy has shrunk by 0.2 percent, or 0.5 percent per capita in the second quarter of this year,” said Labour finance spokesperson Barbara Edmonds.
“The data confirms the New Zealand economy has failed to grow since the coalition government took office.
“The results speak for themselves. Nicola Willis’ hit list is now higher unemployment, low GDP, and record high migration as Kiwis look to escape the effects of her poor financial decisions.
“Factories are closing across the country because the government is not taking meaningful action. Nicola Willis’ cuts to the public sector and pausing of infrastructure projects is driving our economy deeper in to a recession.
“Businesses are fighting against low consumer confidence and spending, and facing increased costs everywhere they look.
“Given this government’s failings, it’s no wonder Kiwis are leaving our shores in droves.
“The Government has no plan to grow the economy. The continued cuts are doing nothing to help improve the worsening economic conditions or drive productive growth.
“Almost a year into her tenure as finance minister it’s time Nicola Willis took some responsibility, invested in growing the economy and stopped the cuts,” Barbara Edmonds said.
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