Finance Minister Grant Robertson has both stuck to the Government's debt target plans, while signalling it could be prepared billions of dollars more in the future. Thursday's pre-Budget statement does not abandon its debt promises, but does signal a shift which opens the door to the Government being comfortable with considerably more borrowing. Another 5 per cent debt to GDP would mean, in today's terms, borrowing roughly another $15b. National's finance spokeswoman Amy Adams claimed Robertson had "thrown in the towel" on the rules, claiming he has lifted the debt limit by 5 per cent. Nowhere do the rules say that the 20 per cent target exists beyond five years.

Source: Stuff May 22, 2019 23:21 UTC