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‘Fiscal cliff’: Grant Robertson and Nicola Willis clash over claims of billion-dollar hole in Treasury books [Video]

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New Finance Minister Nicola Willis says the previous Labour government deliberately funded programmes for just the short term in order to make budgets look better.

New Finance Minister Nicola Willis is claiming there are big holes in the Treasury books as a result of the former government’s financial mismanagement – but her predecessor Grant Roberton says the information has always been there, if you looked for it.

During the post-Cabinet briefing in Wellington on Monday, Willis said she would this month reveal the billion-dollar shortfalls in the books. She also confirmed Treasury would release a mini-Budget and give its half-yearly fiscal update on December 20.

She said she was still working through the number of programs whose funding would end, but which would need ongoing funding – such as that for medicine-buying agency, Pharmac. She claimed the strategy to only assign money for the short term for ongoing schemes was a deliberate tactic by the …

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