Less than three years after Jacinda Ardern won a stunning election victory, prime minister Chris Hipkins is heading for defeat at the polls on October 14.
Wellington | With a general election two weeks away, the shadow of Jacinda Ardern still hangs heavily over the ruling Labour Party, which appears to be heading for defeat as New Zealand bears the long consequences of COVID-19.. A week later there was a new prime minister. Three months later she left Parliament. Since her exit she has barely been in the media, she is not involved in politics, has played zero role in the Labour campaign. She is barely talked about by Labour.
Gone was the language of kindness, he called his new approach focusing on “bread and butter” issues. And that was because inflation - which is now down to 6 per cent after running at near, or over, 7 per cent for a year - remains public enemy number one. New Zealand’s inflation rate remains doggedly high with many bank economists expecting it to stay higher for longer. Meanwhile, the Reserve Bank governor - the colourful Adrian Orr - has shown a firm willingness to slay the inflation genie. Between September 2021 to May 2023 he aggressively jacked up his cash rate from 0.25 per cent to 5.5 per cent.Luxon has many of the affectations of an ex-CEO and calls New Zealand “a turnaround job”, which he says he specialises in.
Peters has positioned himself in the centre since the system’s introduction in 1996. In each of the proceeding decades he has decided government once. It now looks like he may be in a position to do the same in this election. Whoever takes the treasury benches face some steep challenges. COVID-19 massively boosted the nation’s debt, growing net debt from $NZ5 billion to a forecast of $NZ104 billion.But Labour has also boosted the size of the state, embedding higher levels of spending on public services. This has seen nominal core crown spending grow from $NZ76 billion in 2017 to $NZ128 billion for 2023.
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