NZ deficit

Townsville Bulletin - - World Snapshot -

THE New Zealand gov­ern­ment will face the big­gest bud­get deficit in the coun­try’s his­tory at the end of the cur­rent fi­nan­cial year, Fi­nance Min­is­ter Bill English said. English faced crit­i­cism yes­ter­day from Labour MPs who ques­tioned the need for cut­ting bud­get spend­ing, which the gov­ern­ment says is nec­es­sary be­cause it is go­ing to have to pay back money bor­rowed to re­build Christchurch.

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