15 Jan 2009

Ministers meet as economic outlook worsens

7:25 am on 15 January 2009

Cabinet ministers with economic portfolios will meet on Thursday to discuss options to help stimulate the economy.

Prime Minister, John Key, Finance Minister Bill English and four other senior Ministers will also receive updates on the international situation.

Mr English says the ministers will be given the latest economic outlook, which is likely to have become more difficult in the past three weeks.

Mr English says the Government will have to balance any stimulatory measures with future debt.

He says the Government also wants to get on with policy changes to the Resource Management Act and the Emissions Trading Scheme, to improve growth prospects.

Mr Key says he expects the meeting to yield a reasonable number of new ideas on how to boost the economy.

He told Summer Report that ministers and officials have been working on a range of initiatives over the summer break and the meeting is a stocktake of these ideas.