Key says budget deficits will widen on spending plans

"We are operating in an environment with a lot less money," Key said in an interview with Radio New Zealand. "I don't think having a contractionary government will help us," he said

In its briefing note to the incoming government, the Treasury last week predicted widening deficits in 2010 and 2011 as the economic slump reduces the government's tax revenue. Key announced his Cabinet line-up yesterday, including a new role as Minister of Infrastructure, given to Finance Minister Bill English, tasked with kickstarting major projects de4signed to assist economic growth.

Priorities include the prompt roll-out of highspeed broadband services and major roading projects.

By Jonathan Underhill

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