Source: Labour Party – Press Release/Statement:
Headline: Interest rates rise but only smokes increasing
Mortgage rate rises are making life harder for homeowners, and many of them will be surprised the latest CPI figures show inflation would be zero were it not for tobacco tax hikes, says Labour’s Finance spokesperson David Parker.
“New Zealanders understand the need to keep inflation under control, but will be uneasy about their mortgage costs increasing to offset higher taxes on cigarettes most of them don’t smoke.
“Interest rates are lifted to see off forecast inflation.
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