Monday, November 23, 2020

Labour govt gradually increasing % of your income they spend

StatsNZ released household accounts data on Friday.

Important to note they apply to before the lockdown.

Of interest, spending on health, education and housing is increasing as a % of disposable income per capita:


Income tax payable by households increased 7.2 percent to $41.5 billion.

The major point made in the StatsNZ release:

New Zealanders are spending almost everything they earn, with only about $700 million in household saving in the March 2020 year, slightly less than in 2019, Stats NZ said today.“That’s the equivalent of each occupied household, numbering 1.79 million in New Zealand, earning about $412 more a year than they spend,” national accounts senior manager Paul Pascoe said.

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