Anne Boniface, Senior Economist at Westpac, points out that New Zealand’s finance Minister Grant Robertson delivers the new Government’s first Budget this week and the policy direction has already been set by the HYEFU.
Key Quotes
“Budget 2018 will maintain the focus on health, education and public service spending.”
“Capital spending is expected to be broadly in line with HYEFU projections. However, the better than expected tax take and reallocated spending mean there is some extra money to play with.”
“The Government remains wedded to its Budget Responsibility rules. We expect the Budget to project increasing operating surpluses, with core crown debt to GDP forecast to be less than 20% by 2021/22.”
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