OCR Live Blog
Reserve Bank doing the work Luxon can’t, Labour says
Labour says the Reserve Bank is propping up a stalling economy while Christopher Luxon sits on his hands.
Party finance spokesperson Barbara Edmonds said that although cuts to interest rates was "welcome news", a rate cuts signalled a stalling economy.
“It is government choices that determine whether people can find a job, afford a home, or get ahead.
“We shouldn’t pretend that central banks run the economy – governments do. If wages are flat, prices are rising, or businesses are failing, that’s on Christopher Luxon," Edmonds said.
She added that Christopher Luxon promised to fix the economy and the cost of living, but has made both worse.
She added that Christopher Luxon promised to fix the economy and the cost of living, but has made both worse.
“He has no plan to turn the economy around and is instead relying on the Reserve Bank to do the job he can’t. He is out of touch if he thinks he can take credit for what he doesn’t control and refuses to take responsibility for what he does."