-
Preview of New Zealand Budget 2024
Budget 2024 on 30 May will provide the first complete official costings of the new Government’s spending and revenue initiatives. • A weaker outlook for nominal GDP and thus a smaller tax take will be the key driver of revisions to the OBEGAL balance and the government borrowing programme. • We expect the Treasury to forecast a tiny OBEGAL surplus in ‘27/28, while net core Crown debt will likely remain above the Government’s long-term goal of 20-40% of GDP. • A weaker operating balance and a toppedup capital allowance will likely increase the government’s borrowing requirement by about $15bn over the ... (full story)