Govt feels pinch of rising rates, eyes cyclone bill

Repairing infrastructure won't be cheap. (Image: Getty)

Thu, 16 Feb 2023

The government’s ballooning debt is starting to pinch as rising interest rates drive up the crown’s finance costs, just as it prepares to address the cost of Cyclone Gabrielle.Finance minister Grant Robertson said the government books were in good shape ahead of the climate events, which would affect operating and capital spending plans. “We know that this is a significant event affecting families and businesses as well as the country’s roads, bridges and energy networks and it will have a sizeable impact on the eco...

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