RNZ is livestreaming the Prime Minister’s pre-Budget speech in Auckland at the top of this page.
The government has once again cut its operating allowance for the Budget – with the Prime Minister saying more spending during a fuel crisis would risk leaving New Zealand more exposed.
The operating allowance was originally set at $2.4 billion – but Christopher Luxon has told a Business NZ audience it’ll be $2.1 billion.
The capital allowance will increase to $5.7 billion.
https://players.brightcove.net/6093072280001/default_default/index.html?videoId=6395377916112
Luxon said the government would continue to invest in essential services, but has also been able to find significant savings.
Finance Minister Nicola Willis will deliver her third Budget on 28 May in what are constrained fiscal times.
The conflict in Iran and the global fuel crisis it has triggered required a certain level of re-forecasting and reprioritising of the Budget in recent months.
Christopher Luxon is speaking to a BusinessNZ function in Auckland.
Photo: RNZ / Louis Dunham
There were no pre-Budget announcements expected in Christopher Luxon’s speech to a Business NZ audience on Wednesday, though some are due to trickle out from other ministers in the coming days.
The only policy announced to date is the scrapping of the third year of fees-free tertiary study.
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