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The Strength Of Small Business In A Shifting Economy

Analysis: Finance Minister delivers 'nip and tuck' Budget

Despite the promised boost to health, education, and law and order, middle income New Zealanders may well be feeling shortchanged.
In the analysis of New Zealand's Budget 2024, Finance Minister Nicola Willis presented a "nip and tuck" approach, focusing on minor adjustments rather than major overhauls. The budget included tax cuts and increased spending in key areas like health, education, and law enforcement, but these were offset by significant cuts elsewhere, leading to a net fiscal impact of only $2.2 billion over four years. Critics argue that the budget lacks a bold vision for the future, with the tax cuts primarily benefiting higher-income earners and the spending increases failing to keep pace with inflation and population growth. The budget's reliance on future savings and the absence of new revenue streams were also points of contention, suggesting a cautious and conservative fiscal strategy that may not address the country's long-term challenges effectively.

Read the Full rnz Article at:
[ https://www.rnz.co.nz/news/political/561864/analysis-finance-minister-delivers-nip-and-tuck-budget ]