16 May 2013

Budget surplus in 2014-15 predicted

8:49 am on 16 May 2013

Finance Minister Bill English delivers his fifth Budget on Thursday, confident the books will be back in surplus in 2014-15.

Mr English is promising the Budget will include initiatives to put a brake on fast rising house prices, particularly in Auckland. It will also include measures to deal with poverty.

Labour's finance spokesperson David Parker accuses the Government of failing to rebalance the economy away from domestic consumption, saying the country's current account deficit is set to get worse.

Mr English says the Budget will confirm the Government has got its economic policy right.

He will also announce which State power company - Genesis or Meridian Energy - will be the next to be put up for partial sale.