Green Party co-leader Chlöe Swarbrick has criticized the current government's economic policies, saying they are causing long-term pain to communities.
The Green Party spokesperson for Finance argues that the government had options to cool down demand in the economy but instead chose to cut jobs and public services. According to Swarbrick, this decision will lead to more inequality, homelessness, climate-changing emissions, and other long-term issues. While today's OCR announcement may be good news for those with a mortgage, it does not address the underlying problems created by the government's policies.
Swarbrick emphasizes that monetary policy is a blunt instrument and that fiscal policy, or the government's choices on tax and spend, has a greater impact on who benefits and loses in the economy. She notes that New Zealanders are voting with their feet by leaving the country in record numbers due to the unfair economic system. The Green Party leader believes it is possible to create an economy that works for people and planet, rather than exploiting them.