Nicola Willis continues to sit on her hands amid a global economic crisis, leaving the Reserve Bank to act for New Zealanders who are worried about their jobs, mortgages, and KiwiSaver.

“While the Reserve Bank is doing its job to cushion the blow of a global economic downturn, Nicola Willis continues to pretend like everything is fine,” Labour finance and economy spokesperson Barbara Edmonds said.

“New Zealanders are rightfully nervous about their jobs, mortgages, and KiwiSaver right now, yet all they’re getting from their Government is ‘we’ve got this.’ That’s not a plan, that’s complacency.

“Nicola Willis spent so much of her time in Opposition criticising the Reserve Bank, it’s ironic she’s now claiming their decisions as a win. If she wanted to show real leadership she would invest in jobs, health, and homes, and adapt when New Zealand’s economy needs it.

“Her Government put New Zealand into the sharpest recession in 30 years, excluding COVID, helped along by decisions to stop public housing and infrastructure projects. That’s cost New Zealand 13,000 construction jobs. Now they’re sitting on their hands in the face of major economic headwinds.

“Even worse, they’re not being honest with Kiwis about what a continued global slowdown could mean for the budget: more draconian cuts to public services. That means fewer jobs, worse healthcare, and more Kiwis without a home.

“Now is the time we need to be investing in jobs, health, and homes to boost our economy and lift people up, especially as U.S. tariffs cause more turmoil. Rather than working to weather the storm, they’re pretending as if it is business as usual.

“New Zealand needs a Government that steps up and adapts when the global system falters, not one that stands still,” Barbara Edmonds said.

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