Source: New Zealand Government
Finance Minister Nicola Willis has announced Budget 2025 – the Growth Budget – will be delivered on Thursday 22 May.
“This year’s Budget will drive forward the Government’s plan to grow our economy to improve the incomes of New Zealanders now and in the years ahead.
“Budget 2025 will build on our efforts to secure New Zealand’s future prospects, continuing the fiscal repair job made necessary by Labour’s era of wasteful spending.
“We take seriously our responsibility to chart a path out of a spiral of deficits and debt left to us by the last government.
“The Budget will also contain bold steps to support economic growth, including measures to address New Zealand’s long-standing productivity challenges.
“These measures will go beyond the traditional Budget focus on spending and savings initiatives.
“The Government intends to introduce several legislative and regulatory measures at the Budget focused on removing barriers that hold back job and wealth creation for New Zealanders.
“We will build on the work of Budget 2024 to address the cost of living, deliver effective health and education services and restore laws and order.
“We will advance new social investment measures to improve the lives of New Zealanders in the greatest need by getting better results from taxpayer-funded social services after six years of Labour Budgets focused almost exclusively on agencies spending more.
“Budget 2025 will be squarely focused on ensuring New Zealanders can earn more in the years ahead by growing our economy.
“Budget 2025 will be the responsible futured focused Budget New Zealand needs to secure better incomes and opportunities in the years ahead.”
Notes to editors: The Government’s Budget priorities can be found in the Budget Policy Statement 2025 released on 17 December.