Roosting chorus: Deficit halves
Stronger-than-forecast economy halves Budget deficit to $3b; Govt cash pile $6b better-than-forecast as investment spending lags; Core retail spending up 10% in Oct; Shane Reti elected National Deputy
TLDR: Today in the political economy, the economy is doing much better than everyone expected in March when Covid-19 hit and that’s helping retailers, the hospitality sector and the Government’s accounts. It reported halving of its expected deficit today because of higher GST and income tax receipts. Slower-than-forecast Government investment spending h…
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