Budget unlikely to change Reserve Bank views
Finance Minister Bill English delivered this year’s Budget yesterday and, while health and education were the big winners in terms of spending, there were few significant new initiatives.
For example, despite intense public focus on Auckland’s housing issues in the lead-up to the Budget, English delivered little in the way of housing spending.
However, ASB chief economist Nick Tuffley said the Budget showed the government’s books are in good shape, although the big winner is caution.
An improved economic outlook has given a leg up to the government’s books, but the over-riding focus has been paying down debt quicker, he said.
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