The Finance Minister's painting a grim picture of the economy, signalling her Government will further cut into the Public Service.  

Treasury's opened its books for the half-year economic and fiscal update, showing the expected surplus has been pushed out from 2027 to beyond 2030. 

Nicola Willis has adjusted the way the surplus is calculated, but says come Budget day next year, she'll be forced to make some tough decisions.  

She says from now on the official measure of surplus —officially called the OBEGAL— will no longer take into consideration the $4.1 billion ACC deficit.  

She's calling this new measure OBEGAL-X. 

Political Editor Jason Walls told Matt Heath and Tyler Adams that in terms of the fiscals, things are looking worse than expected, but they’ve done a bit of “swanky PR”.  

LISTEN ABOVE  

The Finance Minister's painting a grim picture of the economy, signalling her Government will further cut into the Public Service. &nbsp;
Treasury's opened its books for the half-year economic and fiscal update, showing the expected surplus has been pushed out from 2027 to beyond 2030.&nbsp;
Nicola Willis has adjusted the way the surplus is calculated, but says come Budget day next year, she'll be forced to make some tough decisions. &nbsp;
She says from now on the official measure of surplus —officially called the OBEGAL— will no longer take into consideration the $4.1 billion ACC deficit. &nbsp;
She's calling this new measure OBEGAL-X.&nbsp;
Political Editor Jason Walls told Matt Heath and Tyler Adams that in terms of the fiscals, things are looking worse than expected, but they’ve done a bit of “swanky PR”. &nbsp;
LISTEN ABOVE &nbsp;

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Matt and Tyler dive into the latest news stories, share their opinions, and engage with their listeners weekdays on Newstalk ZB.

We’re bringing you an exciting new era on Newstalk ZB with Matt Heath &amp; Tyler Adams Afternoons.
With years of media and broadcast experience between them, this team brings a fresh and unique perspective to your weekdays.
Matt and Tyler dive into the latest news stories, share their opinions, and engage with their listeners weekdays on Newstalk ZB.

Matt Heath and Tyler Adams dive into the latest news stories, share their opinions, and engage with their listeners weekdays on Newstalk ZB.

Matt Heath & Tyler Adams Afternoons

Jason Walls: Political Editor on the Government's expected surplus being pushed out to 2030

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/b7026b35-b6d9-420f-a9b7-b2490010d013/transcript

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