Photo: RNZ / Mark Papalii
Both Labour and the Taxpayers' Union have hit back at criticism levelled at them by Finance Minister Nicola Willis, saying she must take responsibility for the state of the books.
Treasury's Half Year Economic and Fiscal Update (HYEFU) - published on Tuesday - showed a surplus was not forecast until 2029/30, although Willis said the government would still target 2028/29.
The expected deficit for 2025/26 was projected to be $13.9 billion, $1.8b worse than forecast in May. A slower economy, lower tax take, higher debt costs were cited as reasons for the revisions.
In her accompanying Budget Policy Statement, Willis mounted a defence of her "deliberate, medium-term" strategy, and attacked her opponents on both the left and th
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