| A no-surprises Budget |
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The Budget contains little to get excited about in terms of driving the economy forward, says BNZ chief economist Tony Alexander – though that is partly understandable in the context of needing to get the record 8.4% of GDP budget deficit under control. But it does nothing to close the widening per capita income gap with Australia, says Alexander in his Budget overview in his weekly economic overview. However, the ASB’s economic team says the cost cutting allows a much swifter return to operating surplus than initially expected, in its succinct overview of the budget. 
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