A few lollies in the scramble, but a forward-thinking growth focused budget fuelled by a healthy budget surplus with stellar growth forecast that looks to secure New Zealand into the future.
Rather than a short-term election centred budget, the country has been put first with pleasing widespread spending in areas across the board from Health, Roads, Maori, Technology, Education, Agriculture, Fisheries and more.
The Government has long been worried about our overall economic position and by reinvesting the surpluses, we have an economy that is in great shape, growing well and has debt under control.
Therefore, it makes sense to make sure we use the surpluses to support a growing population, which in turn should lead to further prosperity.
While politically silent on immigration, it’s clear that with all the job creation, the workers are going to have to come from somewhere and we will have to be able to cope with the potential strain on infrastructure, health and housing. However, this budget effectively caters for this, and we see such an approach as a hallmark of a growing economy.
Not a budget focused on business as such, more on the individual, as well as the economy and the country overall.
At a Glance - Key points
- Tax band changes mean more take-home pay for all
- Massive infrastructure investment (Roads/Rail/Health/Education)
- Economically & socially focused
Listen to Iain Craig's interview on Humm FM discussing the Budget and what it means for New Zealand businesses.