Willis Blames Past Gov't Policies for Economic Woes
• Finance Minister Nicola Willis blames previous government for "toxic trifecta" of high interest rates, inflation, and recession • GDP fell 0.3% in Q3, worse than expected, indicating economic slowdown • Willis promises to "open the books" on state of economy, claims "nasty surprises" hidden by past government • Blames over-regulation and overspending under past government for poor economic conditions • Suggests Reserve Bank should focus just on controlling inflation, not also on employment like past government wanted