Video: A massive structural deficit

Finance Minister Bill English has pointed to a massive structural deficit in the government's finances and has called for a debate that asks some 'searching questions' about how to reform the government and the economy to improve New Zealand's growth rates. English told interest.co.nz in an interview that Treasury and the government were now coming to grips with the depth of the challenge in the decade ahead, given slow global economic growth, New Zealand's structural problems and the prospect of years of borrowing and deficits.