Buzz from the Beehive
A politically timely announcement from the Beehive yesterday advised that the Government is providing significant additional cost-of-living support and is fighting inflation by extending the reductions to fuel excise duty, road user charges and half-price public transport by more than five months until the end of January next year.
The lower fuel excise reduces the cost of filling up a 40-litre tank of petrol by over $11, and for a 60-litre tank, over $17 and half price public transport sees an average person who pays two $5 fares a day save $25 a week.
“We know that inflation is rising across the world, and cost of living pressures are making it tough for New Zealand right now. High fuel prices, particularly driven by the impact of the Russian invasion of Ukraine, are a global problem affecting households and businesses in New Zealand,” Finance Minister Grant Robertson said. Continue reading “Yes, cost-of-living pressures are coming from overseas – but check out the pace of growth in non-tradables inflation”