26 May 2017 |
The Budget 2017-2018
Finance Minister Steven Joyce has unveiled his first Budget. We believe it continues the Government’s focus on maintaining surpluses, reducing debt, growing the economy and supporting the most vulnerable in society via targeted ‘social investment’ spending.
It’s no surprise that it includes a $2 billion a year ‘Family Incomes Package’ that includes tax reductions. Although it’s called a Families Income Package, it shouldn’t be lost on anyone that the package benefits all taxpayers earning over $14,000 (2.5 million Kiwis), including those without families to support.
The Budget also targets sustainable economic growth by investing now in necessary infrastructure and public services whilst simultaneously focusing on reducing public debt. Commendable spending on social investment was also announced in an effort to address widely acknowledged and growing societal inequality.
The full budget and associated documents and speeches is available here
A mix of reviews from NZ business leaders is included here