Source: New Zealand Labour Party
The economy shrank 1% this quarter and New Zealand has tumbled into the depths of a recession of Nicola Willis’ making.
“Nicola’ Willis’ cuts and austerity has fed the recessionary fire, and today’s GDP figures show this, recording the weakest 6-month period since 1991, excluding COVID-19,” said Labour finance spokesperson Barbara Edmonds.
“There’s no creative accounting that Nicola can do to make these GDP figures better. This amount of economic shrink in six months is a dire result.
“A year on and we are in no better position. The economy has not grown, Kiwis are no better off, and even more are out of work.
“After talking all year about growth and productivity, the figures show that this is not the case.
We have more debt and nothing to show for it.
“Nicola Willis needs to focus on getting results in the real world. The Government should be doing what it can to support and grow the economy, focus on creating jobs and opportunities, not slashing and burning,” said Barbara Edmonds.
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