The path back to surplus is a tough one

The path back to surplus is a tough one
Finance Minister Nicola Willis. (Image: NZME)
Rebecca Howard
Westpac Bank is tipping the Treasury to forecast a “tiny” surplus in the year to June 2028 at the May 30 budget, but said it won’t be easy to achieve.“We think that sustained spending restraint may well prove more difficult than is likely to be depicted in Budget 2024. Hence the path to surplus may be longer and more uncertain,” said senior economist Darren Gibbs.The main uncertainties about expenditure are the extent of the baseline departmental cost savings that finance minister Nicola Willis has been able to ach...

More Economy

Business gloom offers inflation hope
Economy

Business gloom offers inflation hope

The New Zealand Institute of Economic Research’s (NZIER) Quarterly Survey of Business Opinion shows a continued deterioration in business confidence in the second quarter.A net 35% of firms expected a deterioration in the general economic outlook over the coming months on a seaso...

Staff reporters 02 Jul 2024
Independent costings needed for tough political decisions
Economy

Independent costings needed for tough political decisions

The time is now for an Independent Fiscal Institution.

Cameron Bagrie 01 Jul 2024
Brave-faced craft chocolate industry finds strength in unity
Retail

Brave-faced craft chocolate industry finds strength in unity

More than 30 boutique chocolate companies raised the bar at Chocstock.

Gregor Thompson 01 Jul 2024