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Election could erode New Zealand budget repair

Wednesday, June 21, 2017

Significance

Increased economic optimism will be welcomed by Prime Minister Bill English, who is hoping that his National Party will win a fourth consecutive term in government this September. Finance Minister Steven Joyce presented a confident budget for the 2017-18 fiscal year in May that focused principally on low-to-middle-income taxpayers, laying out the government’s economic agenda.

Impacts

  • A tight labour market will push up wages and paint a positive picture of National rule for the electorate.
  • High levels of household debt could undercut consumer confidence once monetary policy begins to tighten.
  • No shifts in climate policy are anticipated until a June 2018 Productivity Commission report is released.
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