Long-term fiscal storms on the horizon

(Image: Unsplash)

Tue, 10 Sep 2024

New Zealand is facing two long-term fiscal storms: NZ Super costs and infrastructure, or three if you include healthcare. Unless we accept that the tax burden will need to rise significantly, the ability to handle one may require sacrifices from another. I doubt it will be in health.Infrastructure is the first storm. The Government Policy Statement on Land Transport set out the beer income and champagne taste divergence, with a $6 billion gap between expenditure intentions and funding. Delivering the intended programme “requires acce...

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