Finally, some good news from the economy
Responding to today’s release of the 2025 audited financial statements, the Taxpayers’ Union has welcomed the results as being largely better than those forecast in Budget 2025.
Taxpayers' Union Executive Director, Jordan Williams, said:
“Finally, some good news from the economy. While part of the improvement reflects one-off spending in 2023/24 not being repeated, it’s encouraging to see the numbers heading in the right direction. Minister Willis is right to be pleased that core Crown spending has fallen as a share of GDP, although it is still higher than it was before the last election.”
“With stronger fiscal discipline and long-overdue economic growth, the Government’s books can improve even faster. However, returning to surplus, paying down debt, and rebuilding fiscal buffers must remain the focus. Monetary policy can’t do this alone, it needs fiscal policy to pull its weight too. If deficits persist, the Reserve Bank risks coming under pressure to keep rates low, making inflation control harder.”
“These results are a positive step, but just one step. The Government must show restraint, asking of every programme, ‘is this really necessary?’ - and cutting what isn’t.”
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