Economic growth is front and centre of this year’s Budget.
This year we have a real opportunity to focus on economic growth in Budget 2025, despite taking place against a difficult global backdrop. We can’t wish that away. What we can and will do is focus on the things within our control, by providing a predictable, steady approach to economic and fiscal management. We are responding by staying the course with policies that provide stability, support investment and make New Zealand an attractive place to do business with and invest.
Our Budget will still deliver increased investment in the things that really matter to Kiwis: health, education, law and order, the defence force, business growth and targeted cost of living relief.
But we need to get our books in order. The Government’s goal is to put net core Crown debt on a downward trajectory. That means new spending initiatives will be limited to the most important priorities, most government departments will not receive additional funding, and we have undertaken a significant savings drive.
The good news is that, despite significant global challenges, a steady economic recovery is now taking place here, and that leaves me optimistic about New Zealand’s economic future because I see how hard kiwis work, parent, manage businesses and care about their communities.
The next decade can be our decade, but that requires good and steady government and careful spending choices. This year’s Budget will not be a lolly scramble; it will be responsible and secure New Zealand’s future.”
You can read the full speech
here.
Kind regards
Hon Nicola Willis | Minister of Finance and Economic Growth 
