NZ Economy Growth Falls Short of Expectations, Says ACT Leader

New Zealand's economy showed growth of 0.2% in the June quarter, according to recent GDP figures.

However, ACT Leader David Seymour believes this is not enough and that more action is needed to balance the books and secure Kiwi households' prosperity.

Seymour stated that 'any growth is good news,' but added that it's essential to go further and faster in ending waste and cutting red tape to create conditions where businesses, customers, workers, and investors can grow the economy.'

The Treasury's Budget forecasts show net core Crown debt at $192 billion by June this year, 42.4% of GDP or approximately $35,800 per person.

This is forecasted to rise further to $216.5 billion by next June, with an interest bill of $9 billion each year, more than the combined costs of police, courts, and prisons.