Europe Asia News

New Zealand Prime Minister Christopher Luxon made a statement regarding the financial burden of the global energy crisis on households and businesses.

Highlighting external economic pressures, Luxon said, "The conflict in the Middle East is directly driving up petrol prices in New Zealand. This affects households and businesses across the country, but the government cannot afford to ease the pressure for everyone."

Referring to past economic policies, the Prime Minister stated, "We cannot repeat the mistakes of the Covid period, when excessive spending increased inflation and debt. We must strike the right balance. The most sensible thing our government can do is provide timely and targeted support to those who need it most."

Sharing details of the support package, Luxon said, "A weekly additional payment of $50 will be provided to 143,000 low- and middle-income working families to help them cope with rising fuel costs."