Photo: RNZ / Angus Dreaver
The nation's books have been opened - and while there is no forecast recession, and and inflation is expected to dip below 3 percent by December 2024, there are some ugly numbers in front of us.
Tax revenue is $2.9 billion less than forecast, the deficit is $3 billion more than anticipated, and the pre-election update warns if operational spending in next year's Budget increases by a billion dollars more than planned, the deficit will not switch back to surplus over the ten-year projected period.
Unemployment will rise to a peak of 5.4 per cent by 2025, while annual migration is forecast to be 33,000 more than forecast at 100,000.
Kathryn talks to BNZ Head of Research Stephen Toplis and Infometrics Principal Economist Brad Olsen about how this impacts the incoming government's options.
