Treasury today opened the governments’ books, revealing that the crown’s finances have improved markedly since the Budget forecast in May. However, the Government will still finish this decade in a far more perilous place than it entered it.
Taxpayers’ Union spokesman James Ross said:
“Nicola Willis has turned a corner, and for the first time since 2018 a genuine cash surplus is forecast in 2031. But a lot can happen in five years, and there’s a long way to go.”
“A 2031 dip in core crown government spending just below 30 percent would still be larger than Grant Robertson’s 2019 Wellbeing Budget, and as yet there’s no pathway to unwinding COVID-era government bloat.”
“Treasury Secretary Iain Rennie said himself today that a medium-term recovery still does not fix our unsustainable long-term trajectory. This opening of the books is a welcome relief after a tough decade for taxpayers, but none of the same structural challenges around health, welfare, and super have gone anywhere.”
