Tax Cuts Meet Services Cuts in NZ Coalition’s First Budget

New Zealand’s Finance Minister Nicola Willis has delivered her first budget amidst nationwide protests against the effects of the government’s policies on Māori. She has kept the National Party’s pre-election pledge of across-the-board tax cuts with a package that will cost $14.7 billion (US$9 billion). While National had campaigned on fiscal restraint, Ms. Willis has gone further than expected. Labour had forecast operating allowances of $3.5 billion this year, followed by $3.25 billion next year and $3 billion in each following year. National had promised a relatively cautious cut to $3.2 billion this year, before gradually dropping new allowances to $2.7 billion during this term....