New Zealand’s finance minister Steven Joyce has delivered the 2016 budget.
In the budget that he gave today in parliament he outlined how New Zealand will spend its money over the next year.
The key points from the 2017 Budget are outlined below. The focus seems to be on health and education. Pleasingly the government has included a $2 billion a year boost for lower-income families.
Income tax: The $14,000 tax level is raised to $22,000 and the $48,000 threshold to $52,000.
Rail: $548m in new money for the country’s rail network. That includes $450m for KiwiRail over two years and $98.4m for Wellington’s metro rail network.
Education: $1.5bn over four years in new spending on schools and early childhood education. It includes money for six new schools and more than 300 new classrooms.
Economy: Growth predicted to rise from 3.1 percent in the June 2017 year to peak at 3.8 percent in 2019, before easing back.