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- By Christopher Luxon, Prime Minister and MP for Botany
Driving economic growth to help Kiwis get ahead is at the heart of this year’s Budget.
It’s only through a strong, growing economy that we can create jobs, deal with the cost of living, and invest in the frontline services like schools, hospitals, roads and police that Kiwis deserve.
After a tough few years, New Zealand’s 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 cent, creating 240,000 new jobs over the next few years.
However, we cannot take that recovery for granted, which is why we’ve delivered a responsible Budget firmly focused on economic growth.
A key part of that is Investment Boost, which gives tradies, farmers, and other businesses a tax incentive to invest in new tools and equipment to boost productivity and lift wages.
We’re also driving growth through investment in new infrastructure such as roads and schools, growing tourism, improving KiwiSaver to lift savings, and supporting tech startups and the film sector.
Just like Kiwi households, we have to live within our means and make tough choices about where we spend money.
By finding savings, we’re able to invest in frontline services, with a major boost to learning support for children with additional needs, more maths teachers and tutoring, new and improved access for urgent medical care, $1 billion for hospital upgrades, and more support for police.
Targeted cost of living support is also being delivered. Rates rebates for seniors will increase and be extended to up to 66,000 more SuperGold Card holders.
Working for Families payments will increase for 142,000 families, and we’re extending prescriptions to 12 months to save time and money at the doctor.
Budget 2025 is focused on making the careful investments Kiwis need now in order to bed-in an economic recovery that will help New Zealanders get ahead.
