Chris Bishop, David Seymour, Nicola Willis and Shane Jones with a printed copy of Budget 2026.
Photo: RNZ / Samuel Rillstone
The finance minister says there will be no surprises or one-off sugar hits in the Budget, as she picks this year’s edition up from the printer.
Making the yearly trip to Blue Star printers in Petone, Nicola Willis was joined by all three associate finance ministers – Chris Bishop, David Seymour and Shane Jones.
The presence of the three coalition parties at the photo-op was a reflection the Budget was a “team effort” between three very different parties, Willis said.
A copy of this year’s Budget.
Photo: RNZ / Samuel Rillstone
The ministers had made “compromises and trade-offs” to put the Budget together.
“While there are differences between us, we are very proud of the respect and trust we’ve shown each other and our country by coming together to deliver a Budget that focuses on the things that matter to all of us, that is responsible, that ensures we’re getting out books back in balance,” Willis said.
Labour leader Chris Hipkins said the Budget would be the government’s “last chance” to show it understood the cost of living crisis, and the pressure New Zealand families were under.
“New Zealanders will be looking for some additional support from the government, some acknowledgement that the cost of living crisis is real, and the government have one final chance to deliver that on Thursday,” he said.
Finance Minister Nicola Willis with the Budget.
Photo: RNZ / Samuel Rillstone
This year’s Budget has come under the cloud of the war in Iran, with New Zealanders feeling the pinch of fuel prices and cost of living pressures.
Some support has already announced, such as the boost to the in-work tax credit.
Willis said the Budget was about preparing for the unpredictable, for things to get worse before they got better.
“The alternative is a cheap flirtation with sugar hits and band-aids.”
Willis at the Budget 2026 post reveal lunch.
Photo: RNZ / Samuel Rillstone
Seymour said the reduction in operating allowance showed discipline.
“Some people would say that it’s a tough love Budget, but people know that easy choices are gone. Labour made all the easy choices, now we’re left with hard ones to give people a choice and a chance to be backed when they work hard.”
Jones said there were “certain changes” that were made to the coalition agreement, which showed New Zealand First was prepared to be “pragmatic” and a “team player.”
One of those change Jones was referring to was the scrapping of the final year’s fees free policy, which New Zealand First leader Winston Peters leaked in an interview ahead of time.
“You can’t leak twice,” Seymour told Jones.
Shane Jones reads the Budget.
Photo: RNZ / Samuel Rillstone
Jones said he had worked with Bishop on the capital portion of the Budget. While the operating allowance had dropped to $2.1 billion, operating expenditure had increased to $5.7 billion.
“Bish here brought forward a compelling case to gradually increase the amount of capital allowance we have, but what we’ve got to do is ensure that those providing on those capital projects don’t cause them to get more expensive,” he said.
“Over to you, buddy,” he told Bishop, the minister for transport and infrastructure.
Like Willis’ previous Budgets, the cover is stark and it carries no nickname.
“My focus is less on the glitzy photos and the gimmicks. My focus is on actually what it takes to deliver something that sets the foundations for New Zealand,” she said.
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