There are still struggles ahead with rising rents, rates, insurance and high unemployment, despite today’s inflation data.

“Despite inflation easing globally, National has failed to steer our economy out of trouble, leaving families worse off,” Labour’s finance spokesperson Barbara Edmonds said.

“New Zealand is now in the deepest recession in 30 years, with unemployment rising, and thousands of Kiwis leaving the country every month.”

The latest data shows domestic inflation remains high, squeezing Kiwi families and those out of work under this government, even further.

“Nicola Willis is taking credit for global inflation trends, but domestically high rent, which has increased by 4.2%, and local authority rates, up 12.2% continue to bite. Rents have increased despite the Prime Minister’s continued promises to Kiwis they wouldn’t,” Barbara Edmonds said.

“Under National, 77,900 Kiwis have left the country in the past year. Nearly half of professionals surveyed for the recruiting agency Robert Walters said that they are planning to move to Australia.

“Ironically, Nicola Willis has been given a new job to grow the economy after spending a year shrinking it. As Finance Minister she led disastrous frontline cuts that hurt families and our economy, and now she’s doubling down as Minister of Economic Growth. It’s like putting out a fire with a can of petrol.

“It’s not just families feeling the squeeze. Small businesses are reeling under this Government’s failed policies. Last year, 2500 businesses went under – representing a 10-year-high and nearly 700 more than in 2023.

“Labour’s focus is on rebuilding an economy that works for all Kiwis. National has had over a year to deliver results, and instead, they’ve deepened the recession and let opportunities slip away. It’s time for leadership that invests in jobs, skills, and the future, not cuts and excuses,” Barbara Edmonds said.