Black Budget (New Zealand)
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. In New Zealand, the term Black Budget refers to the government budget of 26 June 1958 in which Finance Minister Arnold Nordmeyer increased taxes on beer, tobacco, cars and petrol. The second Labour government took office in 1957, the 32nd Parliament. Within a year, the government was confronted with a balance of payments crisis caused by the collapse of the price of butter in Britain. Nordmeyer's colleagues were reluctant to cut government spending or break expensive…mehr

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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. In New Zealand, the term Black Budget refers to the government budget of 26 June 1958 in which Finance Minister Arnold Nordmeyer increased taxes on beer, tobacco, cars and petrol. The second Labour government took office in 1957, the 32nd Parliament. Within a year, the government was confronted with a balance of payments crisis caused by the collapse of the price of butter in Britain. Nordmeyer's colleagues were reluctant to cut government spending or break expensive election promises, so Nordmeyer was left with little option but to raise taxes.