Latest / The Kākā by Bernard Hickey
Govt's Budget 'just like a household,' says Willis
TL;DR: Flying in the face of comments from a ratings agency and a mountain of demand for a new long-term sovereign bond issued yesterday, Finance Minister Nicola Willis has again characterised the Government’s finances as too fragile to borrow in its own right to solve Aotearoa-NZ’s infrastructure deficits.
She also again compared the Government’s budget to a household budget, saying spending cuts needed to be found to ‘balance the books’ and that she was afraid of losing the confidence of financial markets when the ‘rainy day’ came for borrowing.
But the ‘grown-ups’ in financial markets and…
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