Fiscal response inevitable in an uncertain world

Dominick Stephens, Michael Gordon and Satish Ranchhod Wellington, May 14, 2020 The 2020 Budget was dominated by the government’s response to the Covid-19 pandemic. With the world economy facing its biggest shock since the Great Depression, the required fiscal response was inevitably going to be well beyond anything seen in our lifetimes. Indeed, it turned out to be even larger…

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Remarkable balancing act, not the time to be adventurous

Wellington, May 15, 2020 I saw 33 Budgets and many other financial statements introduced during my years in Parliament. Each had their own drama attached to them, some much more than others. The 1984 “Rogernomics” Budget of Sir Roger Douglas and Ruth Richardson’s 1991 “Mother of All Budgets” were probably the most sensational. However, none of them was developed and…

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