Podcasts Other The Mike Hosking Breakfast Steven Joyce: Former Finance Minister on the results of the pre-election economic and fiscal update

Steven Joyce: Former Finance Minister on the results of the pre-election economic and fiscal update

Published: Sept. 12, 2023, 7:47 p.m.

A former finance minister is warning that whoever wins the next election will need to tighten the belt.\xa0

Treasury's pre-election update is forecasting the Government won't return to surplus until 2027, a year later than previously forecast in the May Budget.\xa0

Government debt is now forecast to reach $185-billion by 2025, well above the $83-billion forecast from three years ago.\xa0

Former National Finance Minister Steven Joyce told Mike Hosking that the Government's books are in a worse position now than at the peak of the Global Financial Crisis.\xa0

He says there will have to be a closer look at government spending than there was when National came to power in 2008.\xa0

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