Government spending looks likely to be included in a proposed review of national savings habits.
New Zealand's overseas debt rivals countries in major financial difficulty, such as Greece, Ireland and Iceland.
Most of this debt is household borrowing.
Since 2007 households have increased savings, while the Government has been adding to its debt.
While the scope of the national savings review is yet to be released, Radio New Zealand's economics correspondent says it appears Government's finances will be included.
The Council of Trade Unions is concerned about a renewed attack on public services.
But Business New Zealand says Government spending is a large part of the economy and should be included in the review.