Labour finance spokesperson Barbara Edmonds has launched a sharp critique of Finance Minister Nicola Willis, accusing her of mismanaging New Zealand's economy as the Treasury's Half-Year Economic and Fiscal Update (HYEFU) paints a bleak fiscal picture.
Edmonds claims Willis' decisions have deepened economic challenges, including a rising deficit, increasing unemployment, and escalating emigration. "Unemployment is climbing, jobs are disappearing, and more Kiwis are leaving for better opportunities abroad," Edmonds remarked. She argued these trends reflect poor judgement and a lack of effective leadership in handling the country's finances.
Edmonds also accused Willis of using creative accounting to obscure the deficit’s true scale. "Rewriting the rules to measure the deficit won’t fool New Zealanders. They see through the spin," she added, referencing recent changes in how fiscal performance is presented.
Labour has been particularly critical of the Government's tax policies, which include cuts and sector-specific concessions. Edmonds argued these moves have worsened the fiscal outlook, alleging that Willis is now looking at stealthy tax increases to bridge the gap. "Kiwis are left paying the price for reckless decisions," she said.
Edmonds concluded by criticising the Government’s economic strategy, saying it lacks substance. "Talking about growth isn’t the same as achieving it. This Government is out of touch with the reality of what’s needed to strengthen the economy," she said.
The Labour Party has positioned its critique as a call for stronger fiscal responsibility and a focus on policies that address the needs of everyday New Zealanders. The HYEFU results have provided them with fresh ammunition to challenge the National-led Government as economic pressures continue to mount.
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