Housing costs keep soaring, what will it take to cap rates?

Responding to today’s CPI update, showing annual inflation has ticked up by 0.3 points to 2.5 percent, Taxpayers’ Union Spokesman James Ross said:

“Even a small rise in inflation is a reminder that the cost-of-living crisis hasn’t gone anywhere. People can’t make do without housing, and the costs keep soaring.”

“Local rates increases were responsible for 14 percent of the increase, and with a fresh set of rates hikes just a few months away in July households are going to continue being clobbered. Central government has the power to put the brakes on these runaway costs.”

“Ministers Willis and Watts needs the courage to slash inflationary overspending and cap council rates hikes. That’s the pathway back to a growing economy.”