Finance Minister Nicola Willis says the Government's still committed to cutting tax in May's Budget, despite worsening economics.

She's revealed in today's Budget Policy Statement, Treasury now expects 0.1 percent GDP growth this year.

The forecast last year was 1.5 percent.

The Finance Minister says surplus isn't possible in 2026-27 - but it could be achievable the following financial year, although it isn't a given.

She says Labour's spending legacy needs to be corrected in future Budgets.

She says the Government will set a moderate, sustainable course of fiscal correction over several years - and any new spending will be targeted, and within their means.

Newstalk ZB Political Editor Jason Walls joined Simon Barnett and James Daniels with the details.

LISTEN ABOVE

Finance Minister Nicola Willis says the Government's still committed to cutting tax in May's Budget, despite worsening economics.
She's revealed in today's Budget Policy Statement, Treasury now expects 0.1 percent GDP growth this year.
The forecast last year was 1.5 percent.
The Finance Minister says surplus isn't possible in 2026-27 - but it could be achievable the following financial year, although it isn't a given.
She says Labour's spending legacy needs to be corrected in future Budgets.
She says the Government will set a moderate, sustainable course of fiscal correction over several years - and any new spending will be targeted, and within their means.
Newstalk ZB Political Editor Jason Walls joined Simon Barnett and James Daniels with the details.
LISTEN ABOVE

Join Newstalk ZB to discuss and debate the issues that matter most to New Zealanders. From the world stage to here at home, with the latest in news and views, you will always be in the know with Newstalk ZB. 

Join Newstalk ZB to discuss and debate the issues that matter most to New Zealanders. From the world stage to here at home, with the latest in news and views, you will always be in the know with Newstalk ZB.

Join Simon Barnett and James Daniels to discuss and debate the issues that matter most to New Zealanders. From the world stage to here at home, with the latest in news and views, you will always be in the know with Si and James.

Advertisement