Bill’s budget put a bit of extra change in the pocket of poor families, but that came at the cost of the promised surplus. But should you be worried about it?

With government debt still only at 25% of our national income, there is no need to sweat just yet, particularly when our private debt (which is mostly houses and farms) is four times higher than that. It is easy to see what is the real threat to our economy. Looking to the future, the Government is not acting on the 3 biggest threats to our surplus in the future – health, superannuation and diabetes.

About the Author

Gareth Morgan

Facebook Twitter

Gareth Morgan is a New Zealand economist and commentator on public policy who in previous lives has been in business as an economic consultant, funds manager, and professional company director. He is also a motorcycle adventurer and philanthropist. Gareth and his wife Joanne have a charitable foundation, the Morgan Foundation, which has three main stands of philanthropic endeavour – public interest research, conservation and social investment.