Mike's Minute: Govt's anti-immigration stance will cost us dearly
Part two of Laurel and Hardy of the New Zealand economy. This time it's Grant Robertson and the Government's immigration policy.
The wage numbers were the worst thing that could possibly have happened. They increased at a rate not seen since records began.
It's not the sort of record you want to break. Wages are going up at the rate they are because there are no people left to hire.
As long as this continues, the Reserve Bank will keep putting interest rates up, we will be in a longer and longer stagflation environment, and when it ends, as it always does, it will be more and more ugly…
The skinny
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