Bernard Hickey on the big reveal of the government books, and what it means for the election.

Hail, Prefu day! National says Treasury’s pre-election fiscal update reveals a damning epitaph of Labour’s economic management. Labour says it’s evidence they’ve steered the economy through a global storm and the sun will be shining soon. Who is right, and what is the purpose of the whole exercise?

Bernard Hickey, host of When the Facts Change, joins Toby Manhire for a special edition of Gone By Lunchtime to cast an eye over the fiscal analysis, its implications for the campaign and how it sits in a global context.

“We knew it was going to be bad. The question is was it more bad or less bad than we expected?” says Hickey.

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