Spin and spend – a verdict on the 2023 budget

Pension costs are rising faster than education spending. (Image: Getty)

Mon, 22 May 2023

Some have described the 2023 budget as a blowout. It was not. A blowout implies a unique event. The 2023 budget was an extension of a trend: more spending, bigger government, a delayed return to surpluses, and higher debt.It has become such a trend I wonder if the forecasts beyond two years contain any relevance.New Zealand is fortunate in that we have come from a position of fiscal strength and remain in one.But that strength is being eroded with a direction of travel that is becoming more concerning. The government is spending more...

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