Green Party of Aotearoa New Zealand
OCR Cut Welcome For Some While Govt Leaves Many Behind
Poverty and homelessness continue to grow because of this Government’s decisions, despite the Reserve Bank’s move to lower the Official Cash Rate (OCR).
“The Reserve Bank’s decision to lower interest rates today will be welcome news for some but won’t help the thousands this Government has pushed into homelessness and poverty,” says Green Party co-leader and spokesperson for Finance Chlöe Swarbrick.
“Monetary policy is a blunt instrument. It is fiscal policy – that is, the Government’s choices on tax and spend – which dictates who wins and who loses in our economy.
“While the OCR cut will provide some relief for those with a mortgage, the number of New Zealanders left out in the cold continues to grow under Luxon’s decisions. Reports out today show families being forced to choose between unsafe boarding houses, or living on the street.
“Cuts to the OCR do not end poverty or homelessness, nor arrest growing inequality. The Government knows it can take action to address these problems, but is instead choosing to make them worse.
“While this Government tells people they’re making the ‘hard choices’ to push more kids into poverty and increase emissions, the Greens will continue to fight for an Aotearoa where everyone thrives and nobody is left behind,” says Chlöe Swarbrick.
https://www.greens.org.nz/ocr_cut_welcome_for_some_while_govt_leaves_many_behind