John Pask: BusinessNZ Chief Economist on the economy emerging from stagnation, the debt levels

A view the Government has to get a handle on debt, with forecasts showing the economy's now finally recovering.  BusinessNZ's Planning Forecast projects the GDP will grow at just under 3% per year to 2027.  But it warns that an ageing population's set to drive superannuation and healthcare costs to unsustainable levels, consuming all income tax revenue by the late 2040s.  Chief Economist John Pask told Mike Hosking we’re not getting back to surplus until 2028/29, and even that’s touch and go.  LISTEN ABOVE See omnystudio.com/listener for privacy information.