The New Zealand government has scrapped more than $7 billion of Labour projects and plans, including cheaper childcare, as it undertakes a "fiscal repair job". On Wednesday, Finance Minister Nicola Willis handed down a mini-budget alongside Treasury's half-yearly economic and fiscal update (HYEFU). Treasury's forecasts show a wobbly and worsening Kiwi economy which will rely on sky-high migration to grow over the next two years, with GDP per capita sliding backwards. Ms Willis said HYEFU showed a "shrinking surplus, bigger borrowing requirements and greater fiscal risks" than the last update. "It lays bare the extent of Labour's…
