Bill English explains Budget '09

By Increase Savings | Published: May 29, 2009

liability requires a national debate about whether the scheme’s parameters – the age of eligibility, the link to the average wage and its universality – are affordable long term. It would have been more honest to flag the need for that debate. But the Budget is honest in recognising the limits to what a Government can do to offset the collapse in private sector demand which the recession has wrought. Households have been reining in their borrowing and spending for more than a year, and the …

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