The Government insists it has a plan to turn the economy around. 

Treasury's Half Year Economic and Fiscal Update shows the country is first forecast to be in the black by 2029-2030. 

The Finance Minister has admitted the country is borrowing money to pay the interest bill on the debt. 

Nicola Willis told Heather du Plessis Allan that bill is about $9 billion a year. 

She says around 80% of borrowing over the next few years will be for capital assets like hospitals, schools, and roads. 

There may also be more cuts to the public service as they aim to get back down to surplus.  

Economic growth is expected to be just 1.7% next year, and Willis says there's still room for efficiency in the public service. 

She will be sending letters out to her cabinet colleagues to give them ideas on where they can make some savings. 

LISTEN ABOVE  

The Government insists it has a plan to turn the economy around.&nbsp;
Treasury's Half Year Economic and Fiscal Update shows the country is first forecast to be in the black by 2029-2030.&nbsp;
The Finance Minister has admitted the country is borrowing money to pay the interest bill on the debt.&nbsp;
Nicola Willis told Heather du Plessis Allan that bill is about $9 billion a year.&nbsp;
She says around 80% of borrowing over the next few years will be for capital assets like hospitals, schools, and roads.&nbsp;
There may also be more cuts to the public service as they aim to get back down to surplus. &nbsp;
Economic growth is expected to be just 1.7% next year, and Willis says there's still room for efficiency in the public service.&nbsp;
She will be sending letters out to her cabinet colleagues to give them ideas on where they can make some savings.&nbsp;
LISTEN ABOVE &nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

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Nicola Willis: Finance Minister on the Government pushing out surplus expectations

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/57600e5a-a3d2-4af9-8a7c-b3b5013c17e6/transcript

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