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Radio Adelaide: Budget A New Phase For NZ Economy

Radio Adelaide: Selwyn Manning & Peter Godfrey – Budget Heralds New Phase For New Zealand's Economy

  • Radio Adelaide Audio:

    Scoop's Selwyn Manning and Radio Adelaide's Peter Godfrey discuss how group of Taiwanese tourists have appeared in court charged with importing around NZ$6 million worth of crystal methamphetamine into New Zealand.

    Also, the National-led Government delivered its Budget, heralding a new phase in NZ's economy. It confirmed an increase in GST from 12.5% to 15% on all goods and services, tax cuts favour the high income earners while low paid earners will struggle. The cost of living looks set to rise with the cost of consumer goods set to increase and housing rentals about to creep upward. Middle Income earners too look set to be worse off once the consequential impact of GST increases, a rise in inflation and mortage interest rates kick in. The irony of privatising Kiwibank is noted against NZ's current account deficit woes.

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