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Thursday’s Pro email: Debt to only rise to 21.5%

In the political economy, Finance Minister Grant Robertson unveiled a $12 billion infrastructure spending boost that was at the top end of most short-term political expectations and economists' forecasts, but was nowhere near enough to fill a yawning and growing infrastructure deficit.

To give an idea of how much fiscal headroom the Government has chosen not to use, the plan unveiled yesterday only increases net debt to 21.5 percent of GDP, which is well below the top

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