The Green Party says households are now paying, through higher mortgages, for this Government's decisions to increase our country's exposure to imported fossil fuel inflation.
“New Zealanders' mortgage rates are increasing because the Government has increased our exposure to fossil fuels,” says Green Party Co-leader Chlöe Swarbrick.
“Luxon's Government came to power, cut investment in decarbonising our economy and poured hundreds of millions in taxpayer money to subsidise fossil fuels, and now it's looking to underwrite an LNG import facility with a billion dollars from the public purse.”
“The Minister of Finance argues that high inflation is being driven by fossil fuels but is washing her hands of doing anything about it, while actively subsidising fossil fuels.”
“A higher OCR won't re-open the Strait of Hormuz. It won't decarbonise our economy and reduce our exposure to fossil fuel inflation, only Government policy can do that.”
“However, RBNZ is legally required to act when inflation is outside of its target band, when it's clear Government policy isn't doing anything.”
“So let's be real: the reason New Zealanders mortgages are getting more expensive is directly related to this Government's climate denial.”
“Electrifying our homes, our transport and our industry is the cheapest insurance we can buy against the next oil shock.”
“We can reduce the cost of living and climate changing emissions while creating jobs and building economic resilience. That's the Greens' plan for our economy,” says Swarbrick.