No relief for Nicola Willis from Treasury forecasts Return to surplus uncertain

The Government’s finances are aligning with Treasury’s May Budget forecasts, but Finance Minister Nicola Willis faces challenges in achieving the financial stability promised during the National party’s 2023 election campaign. Economic underperformance is hindering tax revenues needed to return to surplus, despite government spending cuts and tax reductions aimed at stimulating business investment. The current economic climate complicates efforts to manage spending while providing necessary support.

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