Liam Dann

I reckon they spend half their lives just thinking about bracket creep.

But they got Liam Dann from The Herald on to explain it anyway.

What is fiscal drag?

Yeah, so basically, uh, the value of a dollar changes over time, doesn't it? So inflation, uh, makes a dollar, lowers a dollar's purchasing power.

It slowed significantly since the March quarter in part because of surging fuel prices, particularly affecting retail spending.

I'm joined now by New Zealand Herald business editor at large, Liam Dann.

A very good morning to you.

Hi, Kerry.