Nicola Willis: Finance Minister on the Government pushing out surplus expectations
The Mike Hosking Breakfast · Newstalk ZB
Audio is streamed directly from the publisher (pdst.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
The Government insists it has a plan to turn the economy around.
Treasury's Half Year Economic and Fiscal Update shows the country is first forecast to be in the black by 2029-2030.
The Finance Minister has admitted the country is borrowing money to pay the interest bill on the debt.
Nicola Willis told Heather du Plessis Allan that bill is about $9 billion a year.
She says around 80% of borrowing over the next few years will be for capital assets like hospitals, schools, and roads.
There may also be more cuts to the public service as they aim to get back down to surplus.
Economic growth is expected to be just 1.7% next year, and Willis says there's still room for efficiency in the public service.
She will be sending letters out to her cabinet colleagues to give them ideas on where they can make some savings.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.