OECD report urges New Zealand to control government spending and reduce fiscal deficit.
The OECD's latest report on New Zealand emphasizes the urgent need to control government spending, following "spending overruns" and "slippage" after the pandemic that led to a permanent increase in the government spending to GDP ratio. The report suggests the government should set operating allowances and tax policies that gradually reduce the fiscal deficit to reach budget balance, and recommends against using debt to fund tax cuts.
May 06, 2024
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