16 Dec 2021

Finance Minister on next year's $6 billion Budget spend up

From Morning Report, 8:27 am on 16 December 2021

Fewer than 10 days out from Christmas, the Finance Minister's given a sneak peek of his gift to New Zealanders - a six billion dollar spend up in next year's Budget.

Investment in climate change initiatives and health reforms will be the two big-ticket items.

It comes as the half-year economic update shows the Budget deficit will hit nearly $21 billion in the current year because of the extra Covid-19 costs.

Treasury predicts a strong lift in revenue and higher spending as the economy rebounds, resulting in a return to surplus sooner than expected.

Finance Minister Grant Robertson spoke to Corin Dann.