PM contender for New Zealand wants to change Ardern’s central bank mandate policies
Main opposition party leader and PM contender for New Zealand in upcoming elections, Christopher Luxon, wants to change Ardern’s central bank mandate and policies if he gets elected in the upcoming elections.
In opinion polls, the centre-right National party of Luxon is leading the governing centre-left Labour Party of former PM Jacinda Ardern.
Currently, inflation in New Zealand is tracking near the three-decade high, causing the living costs to skyrocket. This is considered the key issue in the upcoming elections.
Luxon announced that if elected as the new PM of New Zealand, he would change the Ardern’s central bank mandates and will focus on inflation and immigration setting to reduce price inflation. He also said that he would also work on providing tax relief.
He said that the most important thing is to control the costs. Also, they need to control spending and tax relief.
In 2018, the government introduced a dual mandate for the Reserve Bank of New Zealand. The purpose of the mandate was to maintain inflation between 1-3% and to achieve maximum sustainable employment.
Luxon said he would try to keep the inflation between 1-3% if elected.
Luxon was very efficient in handling the national carrier as chief executive of Air New Zealand and rose to prominence after taking the reins of the National Party in 2021 end.
It's just over a year after he took on the National Party, and the party has been rising to new heights since then.
The national party had 37.2% of votes before the shocked resignation of Jacinda Ardern. They can efficiently govern the next government by forming a coalition with a minor libertarian ACT Party.
Luxon is a millionaire and has several properties across the country. In a speech earlier, he said that he does not support euthanasia and abortion. This was the stark contrast of the Ardern. Ardern was not religious and was seen as the global icon for women's rights.
According to Luxon, the National party aimed to reduce inflation and tax, which means that they are set to reverse Ardern’s initiatives like a merger of the state radio and television stations and remodelling New Zealand’s water infrastructure.
Luxon has spent most of his career offshore and considers himself a globalist. He travelled when he was a senior executive with Unilever. He also supported Ukraine strongly with traditional New Zealand allies.
