Economic growth will slow and superannuation and health spending pressures will intensify as the population ages. The biggest driver is a projected $4.8 billion increase in New Zealand Superannuation expenses. Superannuation will account for close to 20 per cent of the entire projected increase in core government spending between 2018 and 2023. The pension is expected to be around 53 per cent of core Crown social assistance spending and 18 per cent of core Crown expenditure by 2023. Stick to the status quo and just borrowProjections by the New Zealand Treasury show net debt rising to 200 per cent of GDP by 2060.

Source: Stuff July 04, 2019 18:00 UTC