What if the Black Budget of 1958 had never been passed? The budget, in response to a balance of payments crisis, hurt the newly-elected Labour government of Walter Nash and likely cost Labour the 1960 election. What would be the effects of the budget never being passed? Would Labour be able to win in 1960? How would New Zealand be affected by a Labour government under Walter Nash and then Arnold Nordmeyer in the 1960s? What if?