Eric Crampton: NZ Initiative economist on Nicola Willis' plan to rein in Government spending in the Budget - Heather du Plessis-Allan Drive

Nicola Willis is looking to further rein in Government spending in next month's Budget - but one expert has warned it won't go far enough.

The Finance Minister is slashing the operating allowance from $2.4 billion to $1.3 billion.

She's targeting a return to surplus in 2029.

NZ Initiative economist Eric Crampton says Government spending has been running too high for years - and cuts need to be made to save the situation.

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