Reserve Bank predicting 150,000 job losses

The New Zealand National Party

Figures from the Reserve Bank today estimating there will be 150,000 job losses over the next six months, highlights why it’s crucial we have a clear strategy to guide New Zealand out of this economic hole, National’s Finance spokesperson Paul Goldsmith says.

“This is a devastating prediction and emphasises the very real need for a Government with a credible economic plan to steer New Zealand through.

“We must do everything we can to reduce the economic damage, by allowing Kiwis to get back to work as soon as they can.

“Restrictions, even at Level 2 and Level 1, will make it harder for many businesses to operate profitably and will cost more jobs.

“These figures come on top of the 1000 people a day who have gone on to the unemployment benefit during lockdown.

“Thousands more people joining the dole queue will make it much harder for those people to pay their mortgage, put food on the table or pay their bills.

“We know big spending will be needed in tomorrow’s Budget to support businesses and save jobs but we must not dig the hole deeper than it needs to be.

“The Government needs to carefully consider every spending decision they make because every cent will have to be paid off with higher taxes and by future generations.

“National has a plan to rebuild our economy and a track record of managing New Zealand through times of economic crisis.

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