Latest / The Kākā by Bernard Hickey
A 'cost of living relief' Budget for some, but not others
TL;DR: The new Government’s first Budget due today at 2:00 pm is focused on delivering ‘cost of living relief’ in the form of income tax cuts for middle income families, but many of the coalition’s actions have already pumped up costs and lowered incomes, especially for the poor and disabled.
This Budget will include tax cuts and an expected $10-15 billion increase in borrowing to up to $167 billion, which the Government will try to blame on a weak economic inheritance from Labour. However, the Government’s actions since November have frozen large parts of the economy in a state of suspended…
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