Treasury boss Iain Rennie reiterates warning of surging fiscal pressures of ageing population

It is vital for NZ to close its structural operating deficit as its population ages, says Treasury. (Image: Dean Purcell)

Staff reporters

Wed, 24 Sep 2025

Treasury’s latest look at New Zealand’s long-term financial future has again warned of surging fiscal pressures as an ageing population drives retirement and health costs up.“Despite some positive developments, New Zealand has been running a structural operating deficit since 2019/20,” said Iain Rennie, secretary to the Treasury.That underscored the need for sustained fiscal adjustment, he said.With unchanged policy, government spending per person would surge to an inflation-adjusted $35,900 by 2065, from $18,300 a perso...

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