Finance Minister Nicola Willis speaking at the Half Year Economic and Fiscal Update Photo: RNZ
The government books were opened yesterday revealing no return to surplus expected til 2030 - according to the half year economic update released by Treasury yesterday.
The Finance Minister Nicola Willis is pointing to a slower economy, lower tax take and higher debt costs, but maintains she can achieve surplus six months earlier than the Treasury forecast.
However the minister says this will require ongoing restraint and tight control of discretionary spending, and the operating allowances will not exceed $2.4 billion in next year’s Budget.
Kathryn speaks with economist Cameron Bagrie.
