New Zealand Finance Minister Grant Robertson speech
- says the global pandemic and the resulting economic damage will be felt acutely here
- despite the additional borrowing we will need to undertake, we will remain among the least indebted countries among our peers
- country will be running operating deficits for an extended period and allowing net core crown debt to increase to levels well beyond previous targets
- says numbers we will see in the budget next week are sobering
- path forward to recovery will be challenging; business investment and confidence will take a hit and unemployment will rise
- there will be further support for the recovery and rebuild after budget day
- budget focus will be on providing strong public services and taking our next steps to recover and rebuild
- new spending packages planned on five priorities that were announced in the budget policy statement have been re-assessed
- there is an opportunity to break the housing shortage once and for all
- says budget 2020 will carry on this work of supporting industries hit by coronavirus
- a move to alert level 2 will see the vast majority of businesses and workers back
