Treasury's forecasts may get trumped by tariffs

Treasury's forecasts may get trumped by tariffs
US President-elect Donald Trump's talk of tariffs casts a shadow over NZ economic prospects. (Image: Getty)
Rebecca Howard
A bleak economic picture painted by the Treasury may be even worse given the global backdrop.  On Tuesday, Treasury’s Half Year Economic and Fiscal Update (HYEFU) showed a return to a surplus had been pushed out due to weaker growth and lower tax revenue.Those forecasts, however, “have been prepared on the basis that global trade policies are unchanged”, it said. That seems highly unlikely. Tariffs loomIain Rennie, secretary to the Treasury, noted the possibility of the US imposing significant tariffs on several...

More Economy

Consumer confidence back on the up – ANZ survey
Economy Free

Consumer confidence back on the up – ANZ survey

Consumer confidence rose five points to 98.3 in April, according to the latest ANZ-Roy Morgan survey, shoring up the upward trend that was starting to look wobbly.But inflation expectations also rose sharply – up 0.5 points to 4.7%, the highest reading since July 2023.“Household...

Staff reporters 24 Apr 2025
‘Uncertainty abounds’: Willis on trade war challenges
Economy

‘Uncertainty abounds’: Willis on trade war challenges

The impacts for NZ are twofold and will make its economic recovery harder, Willis says.

Rebecca Howard 23 Apr 2025
Rise in liquidations compounded by IRD crackdown
Economy

Rise in liquidations compounded by IRD crackdown

The IRD filed two-thirds of creditor applications in the March quarter.

Gregor Thompson 22 Apr 2025