Why NZ’s defence budget isn’t adding up

Defence spending would need to lift around 140% by 2033 from 2025. (Image: Unsplash)

Tue, 06 May 2025

Trade-offs. That is my word to describe the upcoming Budget, because we face many competing priorities. Defence is now a clear priority. But where is the money coming from if we expect government spending to decline overall as a share of the economic pie? Peter needs to pay Paul. Who is Peter?Every economist has a bullshit radar. You read a lot of stuff, see a lot of market movements and learn to read between the lines.Transparency and numbersThe announcement by Defence Minister Judith Collins caught my attention a few weeks ago. ...

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