Dawn chorus: Net debt just 31.3% of GDP

Budget deficit and borrowing in first 7 months almost $3b less than expected as rebounding economy pumps GST and PAYE into Treasury; Net debt now just 31.3% of GDP

TLDR: Treasury figures out yesterday showed the fast-recovering economy has sharply reduced the borrowing the Government has to do. That gives the Government room in the May Budget to do more on housing, infrastructure and welfare if it wants to, but it also means the Reserve Bank will struggle to buy enough bonds to keep interest rates down. That may f…