The Green Party says the Government’s economic strategy has failed to deliver meaningful growth and is instead placing growing pressure on ordinary New Zealanders, following the release of the Half Year Economic and Fiscal Update (HYEFU).
Green Party co-leader and finance spokesperson Chlöe Swarbrick said the update showed widespread downward revisions across key economic indicators, undermining Finance Minister Nicola Willis’ claims of a “year of growth”.
Swarbrick pointed to forecasts showing unemployment rising next year, arguing the impact was already being felt in communities across the country. She said many New Zealanders were leaving in search of better opportunities overseas, unable to find secure work, afford housing, or access essential services at home.
She criticised the Government’s economic approach as relying on short-term gains, accusing it of prioritising overseas mining, oil and gas interests while failing to invest in small businesses and long-term productive development. Swarbrick said this risked reducing New Zealand to a resource extraction economy rather than building a high-value, resilient one.
The Greens called for what they described as responsible fiscal management focused on the “real economy”, including fairer taxation and increased public investment in infrastructure.
Swarbrick said the HYEFU figures showed the Government’s strategy was not working and that New Zealanders were bearing the cost, adding that a Green-led approach would prioritise people and the environment over profit.
