New Zealand government clamped down on spending in order to find permanent savings as a deteriorating Chinese economy and failing tax revenue put pressure on fiscal goals.
Finance Minister Grant Robertson said his government plans to save around NZ$4 billion over the forecast period. This money will all be treated as savings and it is not being made available for any other programmes, the minister said in a statement.
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Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.