Budget 2011 delivers an impressive turnaround in the Government fiscal situation,with a return to surplus by the year to June 2015, with net Crown debt coming in at under 30% of GDP. However, the national debt situation worsens over this period,leaving one to ask just who is looking after the nation’s books? While the Governmentappears to be successful in looking after its books, the nation’s external deficit and consequential debt is set to deteriorate further. Read BERL’s Budget commentary here.