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The cost of living for the poorest households is rising according to figures from the Consumer Price Index (CPI) representing additions.
It dramatically affects those who are on lower incomes which means the poor are becoming poorer.
Economist Craig Renney says: “The cost of essential items like food and rent are increasing at a higher rate than luxury items. This directly and unfairly impacts those on lower incomes.”
“We must progress the implementation of Fair Pay Agreements; they are an essential part of making sure that our lowest-paid working people are not left behind.”
The new figures show that if the Government did invest in additional spending to support its goals set, it wouldn’t be in a position where families are struggling to live and supply daily essential needs.
Interest rates are at a near-zero. It should be time to put a long-term investment plan in place to fit New Zealand’s needs.
“The Prime Minister signalled on election night, New Zealanders would all benefit from investing to ‘building back better’ from COVID-19,” Renney said.
Image: SUPPLIED/Aerial view of Dannemora suburb (Auckland)