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Further spending cuts could be coming - Economist

Author
Newstalk ZB,
Publish Date
Tue, 5 Dec 2023, 7:27AM
Photo / Getty Images | File
Photo / Getty Images | File

Further spending cuts could be coming - Economist

Author
Newstalk ZB,
Publish Date
Tue, 5 Dec 2023, 7:27AM

The new government's increasing the Working for Families rates.  

The tax credits will rise $8 to $144 after tax for their first child, and by $6 for subsequent children.  

Finance Minister Nicola Willis says there'll be a mini budget December 20th.  

ANZ senior economist Miles Workman told Tim Dower that further spending cuts could be in line to maintain a fiscal balance and eventual surplus.  

He says the previous government increased spending by a very significant amount during Covid-19, and never unwound it despite the economy becoming overheated. 

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