Kerre Woodham: The Finance Minister is charting a tough course

We're going to start this morning with the Half Year Economic and Fiscal Update, which was actually the Three-quarter Year Economic and Fiscal Update. It delivered news we all expected, and that is that we're getting there as a country. It's just taking longer than we thought.

Treasury's half-year update, published on Tuesday, predicted a return to surplus in 2029/30, a year later than it forecasted in May. Finance Minister Nicola Willis said she'd continue to aim for 2028/29 and said we're on target to return the books to surplus faster than they will in Australia, the UK, Canada, and many other advanced economies, while maintaining a prudent debt position.