9 Feb 2012

Budget surplus expected in 2014-15 says Finance Minister

7:28 pm on 9 February 2012

The Finance Minister says New Zealand will return to a budget surplus in 2014 - 2015, but it will be challenging.

Bill English says more forecasts will be issued in the next few weeks, but they're likely to be consistent with $300 to $500 million surplus recently predicted by Prime Minister John Key.

But he says that will be a challenge.

"Regardless of what the actual surplus number is there will be significant changes to public services. We've focused strongly on understanding the underlying drivers of the long term costs rather than just taking out short term savings," he says.