Tax cuts are firmly off the agenda for the foreseeable future as the economic recession is expected to strip some $50 billion out of the New Zealand economy over the next three years.
While using the word "deferred" English could not put a date on any future tax cuts and has admitted it was unlikely they could happen during the current term of the National-led Government.
Traditional areas of Government spending have received a boost – health, education and justice. More schools will be built, more cash going to the District Health Boards and more police officers hired. But future growth in these areas, which has been tracking at between 6 per cent and 8 per cent over the past few years, is unlikely to continue at the same level.
Video: Your Views on the Budget
What do you think of the 2009 Budget? Did you want tax cuts? Here is the latest selection of Your Views:
What do you think of the 2009 Budget? Did you want tax cuts?
Bill English. Photo / Marty Melville
AdvertisementAdvertise with NZME.
