Hopes to cushion the landing for over-heating Auckland and Christchurch property markets in an effort to avoid the pitfalls seen in the US.
Deficit is being exaggerated by insurance flows stemming from the Canterbury rebuild and is not ringing alarm bells, Treasury secretary says.
Secretary Gabriel Makhlouf tells parliament's finance and expenditure committee its forecast average annual growth of 2.5% in the next five years is by and large intact.
Graeme Wheeler's first appearance before a parliamentary select committee descends into farce when the room is cleared to let politicians argue for more time with him.
The airport has extracted $100 million in excessive profits with its most recent price increases for services, says its biggest customer, Air New Zealand.