US EditionNo reprieve for Willis expected from Treasury forecasts, as return to surplus in question
The Government's budget deficit under the Obegalx measure is projected to return to surplus by 2028-29 due to high debt issuance and ongoing fiscal pressures, Treasury said.
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6 Articles
Willis delays return to surplus by another year
Analysis: Finance Minister Nicola Willis began her presentation to media and economists on the half-year economic and fiscal update with a rosy “big picture story”. “With fresh air in its lungs, the economy is picking up,” she said. The first slide of her presentation proudly declared in blue font: “The economy has turned the corner. Growth will strengthen and unemployment fall.” The Government would take more tax and spend less money, return to…
HYEFU 2025: Economic and fiscal repair job continues
Today’s Half Year Economic and Fiscal Update confirms that continued fiscal discipline is required to restore the books to surplus and bend the debt curve down, Finance Minister Nicola Willis says. “Despite the challenges of global events, Treasury is forecasting an accelerating economic recovery, underlining the importance of the Government’s focus on economic growth. “The economy is forecast to grow 3 per cent next year and inflation to remain…
‘Small deterioration in the fiscal forecasts’: Treasury expects widening fiscal deficit
Delay in economic recovery has led to ‘small deterioration in the fiscal forecasts’, Treasury says in its Half Year Economic and Fiscal Update as it expects a widening fiscal deficit and forecasts surplus to return in 2029/2030
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