Fiscal Restraint Paying Off
The crown accounts for the last financial year show an improvement from the previous year, which was inherited from the previous government.
- Deficit dropped from $8.4b to $4.4b
- Spending as a percentage of GDP decreased from 42.9% to 42.1%
- Core crown expenses decreased from 33.1% to 32.5%
Although there is still a long way to go to achieve a surplus and spending under 30% of GDP, the current trend is positive.
Definitely heading in the right direction.
A comparison with the first and second terms of the recent Labour Government (Ardern) and National (Key) would be beneficial.
Author's summary: Fiscal restraint shows positive results.
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