We are not as wealthy as we thought we were

We are not as wealthy as we thought we were
Spending cuts look to be the government's main path to eventual budget surplus. (Image: NZME)
Cameron Bagrie
The V-shaped post-covid recovery has morphed into an L-shape. It will be a hard slog over the coming years. Tough choices are required. From what I can see in last week's budget policy statement (BPS), adding the budget numbers up looks like it requires some reverse engineering – populism rules. A swing to the social side of the ledger under the previous government has now lurched to economic priorities. Is the balance right? What will be the trade-offs between tax cuts and infrastructure in the budget? Reality has...

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