The state of New Zealand’s economy is a disappointment. 

In a pre-Budget speech to the Employers and Manufacturers Association, Finance Minister Nicola Willis confirmed the Government had found savings to pay for tax cuts. 

However, she warned that the books are still in a structural deficit, with spending outpacing tax revenue.  

EMA CEO Brett O’Riley told Mike Hosking that while it was disappointing to hear how bad the economy has gotten; it’s heartening to know that there’s a long-term plan.  

He said the early hints of the Government’s economic growth plan was encouraging to a lot of people in the audience. 

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