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English sets May 20 date for budget which will include tax reform package

Tuesday 2nd February 2010

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Finance Minister Bill English has set the date for the budget at May 20 and said tax reforms will “definitely” be included.

“We want to tilt the economy towards exports and investment and away from consumption and borrowing,” he told reporters at the Parliament today. “It’s entirely appropriate that the government helped New Zealanders through the recession,” he said. “Now we have to focus on fixing a damaged economy and restoring the government’s books.

English said the budget will be delivered “against a backdrop of ongoing restraint, given the Government faces another six years of deficits and net Crown debt will more than treble to a forecast $65 billion by 2014.”

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