Steven Joyce: Former Finance Minister on the results of the pre-election economic and fiscal update

A former finance minister is warning that whoever wins the next election will need to tighten the belt.  Treasury's pre-election update is forecasting the Government won't return to surplus until 2027, a year later than previously forecast in the May Budget.  Government debt is now forecast to reach $185-billion by 2025, well above the $83-billion forecast from three years ago.  Former National Finance Minister Steven Joyce told Mike Hosking that the Government's books are in a worse position now than at the peak of the Global Financial Crisis.  He says there will have to be a closer look at government spending than there was when National came to power in 2008.  LISTEN ABOVE See omnystudio.com/listener for privacy information.