The general consensus from economists and business leaders was financial restraint would remain top of mind for Mr Robertson and the Government. The Treasury yesterday released its half-year economic and fiscal update and Mr Robertson released his budget policy statement (BPS). In terms of Government policies that had been fully costed, the update included an additional $8.4billion of operating spending over the next five years. GDP growth was forecast to be a little slower in the near-term, but still accelerating to a peak of 3.6% growth by June 2019. The pre-election update projections did not go out as far as 2022, but Labour’s pre-election fiscal plan assumed a surplus of $6.6billion in that year.

Source: Otago Daily Times December 14, 2017 15:56 UTC