Christopher Luxon is losing control of the economy in more bad news for New Zealanders already struggling with the cost of living.
Data released today by Statistics New Zealand shows our economy shrunk by nearly 1% in the last quarter.
“Christopher Luxon stood in front of New Zealanders in 2023 and said his business experience would fix cost of living and the economy. Instead, he has failed dramatically,” finance and economy spokesperson Barbara Edmonds said.
“Today’s figures prove the damage National’s economic mismanagement is doing across the country.
“Thousands of jobs are being lost, businesses are struggling to stay afloat, and record numbers of New Zealanders are leaving to find work overseas.
“The consequences for families and communities are huge - less money in people’s pockets, more pressure on household budgets, and fewer work opportunities close to home.
“New Zealand is now on the edge of a recession - and Christopher Luxon has no plan to turn things around. That is simply not good enough.
“Australia’s economy grew by 0.6% in the last quarter, which only highlights the failure of Christopher Luxon and Nicola Willis.
“They will blame everyone else for their failure and say they just need more time. But the truth is clear: under Christopher Luxon, New Zealand is heading in the wrong direction.
“New Zealand cannot afford another three years of National.
“Labour will build an economy that works for everyone - by backing the skills and talent of New Zealanders, creating better, higher-paid jobs, and giving young people the chance to build their futures here at home instead of feeling forced to leave," Barbara Edmonds said.
