Govt spending could be loosened if the world economy goes bad

The Finance Minister says the government's self-imposed spending and borrowing rules could be broken if New Zealand needs to respond to a weakening global economy. This month the Reserve Bank made a surprise cut to the lending rate - leaving it at a record one-percent - citing economic headwinds here and abroad. The minister, Grant Robertson, told our political editor, Jane Patterson, the government is on a watching brief.