Finance

The Government via the Cyclone Taskforce is working with local government and insurance companies to build a picture of high-risk areas following Cyclone Gabrielle and January floods.

The economy has continued to show its resilience despite today’s GDP figures showing a modest decline in the December quarter, leaving the Government well positioned to help New Zealanders face cost of living pressures in a challenging global environment.

The Government is providing a further $25 million in grants to help more businesses in cyclone-affected regions with the clean up and get them back up and running.

Ministers have agreed to extend the interim support package for cyclone and flood affected businesses to include the Wairarapa region.

The Government’s sound financial management means New Zealand is well placed to support families and businesses dealing with cost of living pressures and extreme weather events.

​​​​​​As farmers and growers continue their work to re-establish their businesses in the wake of Cyclone Gabrielle, the Government is providing a boost of $26 million to meet the need in the recovery efforts.

The Terms of Reference for the Cyclone Gabrielle Recovery Taskforce have been agreed by Cabinet, with the Taskforce’s primary purpose to align locally led recovery plans with the work of government agencies and the private sector.

The Government is providing $25 million in grants to help businesses in cyclone-affected regions clean up and get back on their feet.

Budget 2023 will be delivered on Thursday 18 May, Finance Minister Grant Robertson announced today.

 The Government is providing $25 million to kick-start recovery efforts for farmers, growers, whenua Māori owners, and rural communities significantly affected by Cyclone Gabrielle. This funding is part of the $50 million support package announced yesterday.

The Government is providing a further interim emergency relief package for regions hit by Cyclone Gabrielle and the January floods.

The Government’s books are in good shape to meet the challenges ahead and support New Zealanders facing cost of living pressures and extreme weather events.

New Zealand has been granted excepted foreign state investor status from the United States, making it easier for New Zealand investors to invest in the US and deepen ties with a key trade partner.

The Government is providing a $5 million package of emergency support to help businesses significantly affected by the recent flooding in Auckland.

The Government is providing extra cost of living support to families and businesses, delivering on new Prime Minister Chris Hipkins’ promise of a greater focus on the issues facing New Zealanders right now.

The strong economy has attracted more people into the workforce, with a record number of New Zealanders in paid work and wages rising to help with cost of living pressures.

The economy is continuing to grow solidly with the return of tourists in increasing numbers and higher construction activity, putting New Zealand in a stronger starting point to meet the challenges of a deteriorating global economy.

The Government’s books are forecast to be back in surplus in 2024/25 reflecting a resilient economy in the face of a global economic downturn.

Budget 2023 will continue the Government’s commitment to providing Kiwis with economic security through what will be a difficult year for the global economy facing both the challenge of inflation and a forecast economic slowdown.

The Government is providing more cost of living support by extending the petrol excise discount until the end of February then phasing it out by the end of March. Half price public transport will also be extended until the end of March.

The Crown accounts are in a solid position thanks to the Government’s careful financial management through a deteriorating global environment.

David McLean and Sir Brian Roche have been appointed as the first two directors of the newly incorporated Kiwi Group Capital Limited (KCG), the parent company of Kiwibank.

The Government welcomes New Zealand Debt Management’s issuance today of NZ$3 billion of the New Zealand Sovereign Green Bonds that will mature in 2034.

Making the Resource Management process quicker, cheaper and better will help boost New Zealand’s economic growth.