The Government's devised a new measure for counting its coins, which gives it a more positive look.

Treasury reports the Government now won't hit surplus before 2030 at the earliest, rather than 2027.

But the Finance Minister says the official measure will no longer consider the $4.1 billion ACC deficit, putting the books in the black mid-2029. 

Nicola Willis says the Government inherited a tough set of economic conditions.

"As we look ahead, we are seeing the scars that were left by the huge spending policies of the last Government in the wake of Covid - they set us on a path that was not sustainable and we've now got the tough job of cleaning it up."

LISTEN ABOVE

The Government's devised a new measure for counting its coins, which gives it a more positive look.
Treasury reports the Government now won't hit surplus before 2030 at the earliest, rather than 2027.
But the Finance Minister says the official measure will no longer consider the $4.1 billion ACC deficit, putting the books in the black mid-2029.&nbsp;
Nicola Willis says the Government inherited a tough set of economic conditions.
"As we look ahead, we are seeing the scars that were left by the huge spending policies of the last Government in the wake of Covid - they set us on a path that was not sustainable and we've now got the tough job of cleaning it up."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Nicola Willis: Finance Minister on the Government's financial update revealing surplus won't return until 2030

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ba6ee7cd-1259-4cfa-aa08-b24900503130/transcript