I wouldn't describe it as Armageddon

Stuff are reporting that "The Treasury opened the books for incoming prime minister John Key today, and he was not greatly concerned by what he saw.

After meeting Treasury secretary John Whitehead and senior officials, Mr Key told reporters the situation had deteriorated "a little bit" since the pre-election fiscal update.

"They are more pessimistic but I wouldn't describe it as Armageddon," he said."

All WB can say is what a relief that we finally have a PM that understands numbers in a fiscal sense rather than an ex PM who only saw numbers in terms of 'how many of the great unwashed that I need to convince (bribe) to keep me in power."