Treasury's Pre-Election Economic and Fiscal Update forecasts no recession but shows the Government will be in deficit longer than predicted in May and take on billions more debt.
It’s predicted that the government won’t return to surplus until 2027, a year later than previously forecast.
Robert MacCulloch, Auckland University Professor of Macroeconomics, told Kerre Woodham that in his opinion, how Grant Robertson described the update didn’t add up.
He said that Robertson argued that the GDP was growing, and wages were going up faster than inflation and as a result kiwis should be feeling cost of living pressures less, which doesn’t feel right.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Special Summer Offer: Exclusively on Apple Podcasts, try our Dateline Premium subscription completely free for one month! With Dateline Premium, you get every episode ad-free plus exclusive bonus content.