Dear John,
Today I was proud to announce the Growth Budget- focused on growing the economy to help Kiwis get ahead.
A growing economy means a lower cost of living.
It means more jobs, higher wages.
It means being able to see a doctor when you need to, your children getting a world class education and feeling safe in your communities.
It means new roads, more houses and better public transport.
However, we can only deliver those things if we are responsible with the way we are managing the economy.
After a tough few years our economy is starting to recover thanks to National’s careful management. Inflation and interest rates are down, wages are growing faster than inflation, and growth is expected to average 2.7% per year creating 240,000 jobs.
We cannot take that recovery for granted, which is why we’ve delivered a responsible Budget firmly focused on going for growth to secure New Zealand’s future.
At the centre is Investment Boost - a tax incentive which makes it easier for tradies, farmers, and small business owners to invest in new assets to increase productivity and lift wages.
Other growth initiatives include growing tourism, attracting foreign investment, lifting KiwSaver employer and employee contributions, and investing in new infrastructure like roads and schools.
We’re investing in frontline public services with more assistance for children with additional learning needs, more support for Police and over $1 billion to replace and upgrade hospitals.
Helping Kiwis with the cost of living is another focus of the Budget with rates rebates for seniors, higher Working for Families payments for over 140,000 families, and saving New Zealanders money by extending repeat prescriptions to 12 months.
Just like Kiwi households we’ve had to make tough choices about what we spend our money on but we are confident we have put Kiwi’s hard-earned taxes where they will have the most impact.
It’s only through a strong, growing economy that we can create jobs, lift wages and afford the schools, hospital and police we all deserve.
Nicola Willis
Spokesperson for Finance and Economic Growth
