BNZ Weekly Overview May 18
Welcome to the May 18 edition of the BNZ Weekly Overview.
The financial markets and probably 99% of people in the country were unmoved by this afternoon's annual budget release from the Minister of Finance.
It was positive to see some extra money going into roading but the glaring omission of anything solid regarding electricity is a concern when one considers that in order to boost productivity businesses will be investing probably in electricity hungry machinery. Our concerns about migration flows across the Tasman were not assuaged by the continued determination of the government to avoid giving tax cuts even though the fiscal numbers leave scope for something to be done in that area.
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