Source: PSA
At a time of turmoil in the international economic landscape, it doesn’t make sense to kneecap one of the key agencies dedicated to helping New Zealand meet its challenges.
The Government today announced a deep 25% cut in the bank’s five-year operational funding arrangement.
“How does this fit with the Government’s economic growth agenda?” said Fleur Fitzsimons, National Secretary for the Public Service Association for Te Pūkenga Here Tikanga Mahi.
“The bank’s inflation mandate is a key tool for economic management. It fights inflation so the economy can flourish without the damaging impacts of runaway inflation.
“This will see highly skilled people lose their jobs and for what end? Once again, we are seeing the Government happy to cut people without producing the evidence that the cuts won’t impact outcomes.
“As we have seen across the public sector, this is a government happy to axe experienced people charged with doing critical long-term thinking and gathering the evidence for making good policy decisions.
“Undermining the Reserve Bank is just more short-term thinking without regard to consequences.”
