Economy

Robertson's new rules to have your fiscal cake and eat it too

Rebecca Howard
Tue, 03 May 2022

Robertson's new rules to have your fiscal cake and eat it too
The new debt target is a defence against accusations of a spend-thrift govt (Image: Getty)
Rebecca Howard
Tue, 03 May 2022
Finance minister Grant Robertson has announced new fiscal rules for this month's budget targeting small fiscal surpluses and introducing a new debt ceiling.“What we are doing is more accurately representing New Zealand’s fiscal position and putting it in line with the rest of the world,” he told a pre-budget business audience in Wellington. Under the new rules, surpluses will be kept within a band of 0% and 2% of gross domestic product to ensure day-to-day spending is not adding to debt.First, however, the country has...

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