Budget shows disciplined approach – but only for public debt
The 2012/13 Budget has met the Government’s commitment to fiscal discipline by paring back the fiscal deficit over the next two years (it’s down to -$8.4 billion in 2011/12) to deliver a surplus in 2014/15. But it will be a thin one ($197 million), according to Budget Day projections, and Finance Minister Bill English said getting there would be a tough slog.