The Reserve Bank’s decision to cut interest rates is a direct response to the economic damage caused by Christopher Luxon’s mismanagement.
“Today’s OCR cut is good news for mortgage holders – but it’s also the Reserve Bank fixing the damage Christopher Luxon has done,” Labour finance and economy spokesperson Barbara Edmonds said.
“New Zealand’s economy is in crisis – and it’s Christopher Luxon’s fault. Businesses are closing in record numbers, jobs are being lost, and more Kiwis are leaving to find work overseas because he has no plan for growth.
“National lost all economic credibility. The economy is going backwards, and Christopher Luxon has no idea how to turn it around. He blames Trump’s tariffs or global conditions, yet other countries’ economies are growing while ours is shrinking.
“He will try to take credit for the OCR cut, but he doesn’t control it – and what he does control, he’s making a mess of.
“It is unacceptable that the Prime Minister’s only plan is to sit back hoping rising house prices or foreign investors will bail him out.
“Under Luxon, costs are up, wages are flat, and public services are being slashed – while property speculators and tobacco giants pocket massive tax breaks.
“Christopher Luxon made big promises on fixing the economy – but he’s making it worse. He is clearly not up to the job, and New Zealand can’t afford three more years of National,” Barbara Edmonds said