National lays down three budget 'rules', challenges Labour to match

<p>National has unveiled three "Budget Responsibility Rules" it says a re-elected government would operate under, challenging its coalition partners, Labour and other political parties to say whether it will match them.</p> <p>Finance spokesperson Nicola Willis promised to return the Government's books to surplus in 2028/29 under an OBEGALx measure, bending net core Crown debt below 40% of GDP over time, and reducing core Crown spending towards 30% of GDP.</p> <p>Prime Minister Christopher Luxon cast rules as a matter of national security, saying "an economy that cannot support itself in a crisis is a strategic risk, not just a financial one".</p> <p>"If the Crown's own books aren't in order, the whole country stays exposed and vulnerable to major shocks here at home and abroad," he said.