Follow
the podcast on
A former Finance Minister has praised the direction of the Budget, but says there are some “heroic assumptions” about getting back to surplus in 2028/29.
It comes sooner than previously forecast, the date based on the OBEGALx measure, which excludes ACC.
Ruth Richardson told Andrew Dickens that the economy is resting on the shifting sands of what may happen in the Middle East, so we shouldn’t be banking it as a surplus slam dunk.
“Debt continues to rise, the operating allowance continues to rise, numbers can change, there are a lot of heroic assumptions in those numbers, and it's all on a promise that while they're spending for now, we will have savings later,” Richardson said.
She also warned if Superannuation was not addressed it would “monster” the Budget.
LISTEN ABOVE
Take your Radio, Podcasts and Music with you
Get the iHeart App
Get more of the radio, music and podcasts you love with the FREE iHeart app. Scan the QR code to download now.
Download from the app stores
Stream unlimited music, thousands of radio stations and podcasts all in one app. iHeart is easy to use and all FREE
