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ANALYSIS Forget fiscal holes. The incoming Finance Minister Nicola Willis has alleged her predecessor has left her “fiscal cliffs” down which she may tumble.
Kathryn George and Aaron Wood/Stuff In May, Stuff published an explanatory feature on the historic Covid-19 Budget, announced by Finance Minster Grant Robertson. The feature included this quick guide to a Budget deficit. New Zealand has relatively soft landing from the pandemic, according to the latest Crown accounts. The accounts, which take in the five months ending on 30 November 2020 still show an OBEGAL deficit of $4.3 billion, but that’s a whole $1.9b better than the deficit forecast in Treasury's most recent set of forecasts, the Half Year Economic and Fiscal Update, or HYEFU. Thos...