NZ debt nears $1 trillion — Is it too late to pay off?

New Zealanders are well on their way to a collective $1 trillion in debt. At the current rate of growth, we’ll hit that landmark inside the next three years. Current gross debt sits at more than 870 billion for the year to May. At the same time, five years after Covid hit and the Government is still paying the price. Core Crown borrowings rose 11% in a year, hitting $239 billion—that's 156% higher than in May 2019. Today on The Front Page, NZ Herald business editor-at-large Liam Dann joins us to delve into our Nation of Debt. Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts. You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network. Host: Chelsea DanielsEditor/Producer: Richard MartinProducer: Jane YeeSee omnystudio.com/listener for privacy information.