Some light at the end of the tunnel - Mike Butterick

Mike Butterick, National MP for Wairarapa.

OPINION

The many of you involved in the process of submissions for the consultation on the tolling for Te Ahu a Turanga: Manawatū Tararua Highway has shown what a passionate population we have in Tararua District. I thank you for all your comments, meetings and involvement. I’ve done what I said I’d do, that is advocate on your behalf to the Minister of Transport and share with him what you have told me.

We all balance budgets and last week, like everyone else, I was pleased to see the Official Cash Rate (OCR) drop to 4.75% and this week the news just gets better with a drop in the CPI down to 2.2%. For the first time since 2021, annual inflation is within the Reserve Bank’s target band of 1% to 3%.

Over the past few years, households across New Zealand, and no less here in Tararua District have been grappling with rising interest rates, the high cost of living, and economic uncertainty. Last week’s announcement signals that things are turning around, and there’s finally some light at the end of the tunnel. For families, this drop in the OCR means lower mortgage payments, and more money to spend on what really matters — whether that’s keeping up with the weekly grocery bill, covering school expenses, or finally setting aside some savings for the future. This is the kind of financial relief that many families have been waiting for, particularly after facing years of rising living costs and stretched household budgets.

We have seen how local businesses have been under the pump and working hard to stay afloat. We also know there are significant impacts on employees, families and the wider community when things can’t work out and businesses struggle to keep the door open. We cannot forget in our region that farms are also businesses. This was reiterated by Associate Minister of Agriculture Nicola Grigg who I hosted in our region at the start of the month. Nicola spoke to Rural Women in Dannevirke about our focus on creating an environment of business confidence and that this focus includes the agriculture sector.

Last week’s OCR announcement shows that better days are ahead, with more confidence in the economy. Recent reports reflect this renewed optimism, showing a rise in business confidence across the country — the highest we’ve seen since 2016.

This news might just be the green light that some businesses which are ready to grow and contribute to our community’s prosperity need to see, to invest, expand, and potentially hire more staff. I know that businesses from Eketāhuna to Norsewood and everywhere in between, will welcome both the drop in the OCR and the signal it sends of a recovering economy. While there’s still work to be done, the Government’s deliberate and careful plan to manage inflation and rebuild the economy is working. With continued focus and effort, we’re seeing the first signs of a more resilient economy for everyone. As we move forward, communities in Tararua District can expect to see more opportunities, greater financial stability, and brighter days ahead.

And in further good news for those families with children in Early Childhood Education, FamilyBoost will give eligible families a refund of 25% of the fees they have already paid, up to a maximum of $75 per week. If you are unsure of what you need to do, or are having difficulty with the application process, please contact one of my team who can help you out, or on 0800 676 453.

Mike Butterick is the MP for Wairarapa