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Rising costs hurt most New Zealanders

Grant Robertson

Beneficiaries, superannuitants and people on the lowest incomes continue to bear the brunt of higher inflation, according to the latest data from Statistics NZ.

Since National came to office (November 2008) inflation for those on the lowest 20% of incomes has increased by 17%. But for those with the highest 20% of incomes, it has increased by only 10%.

Unaffordable costs

The cost of core inflation items like food, fuel and rates are all soaking up an increasing chunk of the incomes of the lowest paid people. These are costs that Kiwis cannot avoid – and they are rising faster than other costs in the economy.

High housing costs, rising rents are all eclipsing the mediocre wage increases for New Zealanders. Yesterday, the latest wages data showed that 67% of Kiwis got a pay rise of less than inflation, which means they effectively are working harder for less.

Rather than address these problems National does not have a plan for the economy, to help boost our notoriously low productivity, nor to help Kiwi families.

Only a Labour-led Government will help address the growing cost of living crisis in New Zealand for low income Kiwis and we will deliver the shared prosperity that all New Zealanders deserve.

Grant Robertson is elected Member of Parliament from Wellington Central and Labour Party’s Finance Spokesman.

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