New Zealand is set to deliver what it calls a "no frills" budget on Thursday as falling tax revenues squeeze coffers and inflation risks cap cyclone reconstruction efforts, constraining stimulus as the Labour government faces an election this year.
Finance minister Grant Robertson has said the budget will focus on fiscal sustainability as they cut NZ$4 billion ($2.54 billion) in spending to fund programmes viewed as core and to rebuild infrastructure damaged in the floods and cyclones earlier this year.
