Monday, May 23, 2011

Budget builds a growth platform and faster path to surplus

Budget 2011 sets a credible path back to surplus by 2014/15, a year earlier than projected.
We are redirecting $5.2 billion of existing spending to priority public services, and reducing deficits - saving $1.2 billion in operating spending out to 2014/15.
Forecasts show the economy growing by 4 per cent in 2012, and over 170,000 new jobs being created by 2015. We are firmly on a path of creating new jobs, achieving faster growth, and posting consistent budget surpluses.
This will help keep interest rates low, free up resources for the competitive parts of our economy, and improve living standards for all New Zealanders.
For more information: http://beehive.govt.nz/release/budget-frees-52b-higher-priorities

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