As if by magic Finance Minister Grant Robertson has revealed that his self-imposed fiscal rules were ... only self-imposed.

With that one deft trick he has just pulled about $15 billion a year of new spending out of his hat and in doing so changed the game for the 2020 election.

Starting 2021, instead of targeting core Crown debt at 20 per cent of GDP the Government will now target a range - between 15 and 25 per cent.


That's a variation of $15 billion in either direction, although it's hard to see the Coalition opting for policies of