Finance Minister Bill English says that the department of corrections will be the largest department of Government within a few years.

According to New Zealand Herald reports, the number of employees directly engaged in the department of correction, which runs the prisons of country, will be higher as compare to other departments.

Official figures showed on Thursday that the economy of New Zealand has chalked up four consecutive quarters of growth with the annual rate of 1.9%. It has been reported that it is the fastest growth in two years.

According to Statistics New Zealand, in March the Gross domestic product raised by 0.6% with primary sector industries rising 1.7% and manufacturing activity up 1.6% in the most recent quarter.

Finance Minister and Clutha Southland MP, Bill English gave a post-Budget presentation to almost 200 members of the Queenstown Chamber of Commerce on Friday.

He said that the prospect for the economy was better than anticipated, and Queenstown would get profit from the strength of the Australian financial system.

Finance Minister Bill English was today seen defending Australian-owned banks as he continued to raise questions in Parliament related to the Government's step towards the future ownership of Kiwibank.

The second budget will set a plausible path for getting back to surplus in 2016 , three years sooner than forecast in last year's Budget, by controlling rising debt, said Prime Minister John Key as he announced the second budget.

In the Budget announcement today, Finance Minister, Bill English confirmed cuts in personal taxes across the board and that GST will rise to 15%.

On the occasion of the budget, the National Party's management has shielded allegations that its intended tax package is for high income levels, saying that everybody will gain, but that investing in better earners will help boost the economy.