The government has finally decided that we are in recession.
The people (Tax payers) knew this, way before Christmas and were starting to adjust their spending habits – less lattes, less haircuts
(I have been saving on those since 1/1/2000).
You can see the impact of this now in the cities as mortgage interest costs are really biting into the homeowner’s pockets and cafes, hairdressers/beauticians are the first to suffer.
The government has opened the immigration door to allow much needed workers into the country, unfortunately this is going to add to the housing shortage and potentially push inflation again as the country adjusts to find our new normal.
Our farmer clients will be watching their spending as budgets come under stress from falling payout and rising interest costs. Thank goodness feed and fertiliser costs have eased.
Please reach out to us if you need budgeting help or advice.
Until next time, Mark