It’s only through a strong, growing economy that we can create jobs, deal with the cost of living, and invest in frontline services like schools, hospitals, roads, and Police.
After a tough few years, New Zealand’s economy is starting to recover – thanks to National’s careful management. Inflation and interest rates are down, wages are growing faster than inflation, and growth is expected to average 2.7%, creating 240,000 new jobs over the next few years.
But we can’t take that recovery for granted. That’s why we’ve delivered a responsible Budget focused on economic growth.
We’re also delivering targeted cost-of-living support. Rates rebates for seniors will increase and extend to 66,000 more SuperGold Card holders. Working for Families payments will rise for 142,000 families, and prescriptions for ongoing medications will now cover 12 months – saving time and money.
The Government is committing $24 million over four years to help older New Zealanders move from hospital into care facilities better suited to their recovery. Too often, people stay in hospital longer than needed because other care options are limited. This funding will also support providers to care for people with complex needs – bringing hospital-level care closer to communities.
Our new Investment Boost initiative is key to driving growth and funding services. It gives tradies, farmers, and other businesses a tax incentive to invest in tools and equipment that increase productivity and lift wages.
We’re also investing in infrastructure like roads and schools, boosting tourism, improving KiwiSaver, and backing tech startups and the film sector.
Just like Kiwi households, the Government must live within its means. By finding savings, we’re able to invest in what matters – better healthcare, more maths teachers, learning support for kids with additional needs, hospital upgrades, and greater support for Police.
Budget 2025 is a plan for growth – because only through growth can we deliver the services every Kiwi deserves.
