Podcasts Other The Mike Hosking Breakfast Kelly Eckhold: Westpac Chief Economist says the Govt are spending $137b a year. may need to borrow more

Kelly Eckhold: Westpac Chief Economist says the Govt are spending $137b a year. may need to borrow more

Published: Aug. 28, 2023, 7:34 p.m.

The Government is trying to cut spending as economists predict it'll need to borrow billions more.\xa0

Finance Minister Grant Robertson is cracking down on public contractors and consultants spending, announcing it'll mean savings of almost $4 billion over four years.\xa0

Westpac Chief Economist Kelly Eckhold told Mike Hosking the Government is spending $137 billion dollars a year, but this'll help at the margins.\xa0

He says given the revision of revenue estimates, it might need to borrow an extra $15 billion over the next four years.\xa0

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