Sharechat Logo

Grant Robertson to deliver first Budget on May 17

Wednesday 31st January 2018

Text too small?

The government has set Thursday, May 17 as the date for its first Budget.

Finance Minister Grant Robertson said the document would build on the mini-Budget package of measures introduced before Christmas, which cancelled the previous government's April 1 tax cuts in favour of a more generous package of measures for lower income households that will take effect from July 1.

The Budget would "make progress on a wide range of priorities", including improvements to the public services; reducing child poverty and homelessness; supporting the regions; and tackling climate change and other environmental challenges.

The government has a spending allowance for recurring programmes of $2.6 billion a year and a capital spending allowance in the 2018 Budget for new one-off projects in areas such as schools, hospitals and public transport of $3.4 billion.

"While making these investments, we will remain responsible fiscal managers, with the Government’s Budget Responsibility Rules ensuring net debt falls to 20 per cent of GDP within five years of taking office, expenditure is controlled, and surpluses are delivered across the economic cycle," said Robertson.

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ manufacturing activity chugs along in November
Australia's GWA lobs in $118M bid for Methven
Govt leaves door open for higher emissions price cap
Methven shares halted pending material transaction
Housing market continued cooling in November
ComCom nudges Fonterra towards greater transparency
Infratil forecast unaffected by delayed return from Longroad asset sale
December 14th Morning Report
NZ dollar trades in tight range as ECB confirms end to quantitative easing
MARKET CLOSE: NZ shares rise as optimism over US-China trade deal lingers; Fletcher gains

IRG See IRG research reports