Reported 11 months ago
New Zealand's Treasury Department is considering further measures to reduce government spending and increase revenue due to weakening tax receipts caused by the struggling economy. Secretary Caralee McLiesh mentioned that reviews of spending and identification of revenue options are ongoing, with potential increases in levies and service fees. The government's goal of returning to surplus by 2028 is challenged by recessionary conditions, requiring tough decisions on increasing revenue or cutting expenses to reduce debt and meet budget targets.
Source: YAHOO