The strength of the economy is continuing to be reflected in the Crown accounts and shows New Zealand is well positioned to support New Zealanders to manage the impacts of the challenging global economic environment.
Hon Grant Robertson
A Budget 2022 cost of living package will help New Zealanders through the peak of the global inflation storm, with an estimated 2.1 million people aged 18 and over eligible for an extra $27 per week over a three month period.
A strong economy and successful response to the pandemic has given New Zealand a solid base to accelerate the recovery and create a high wage, low carbon economy.
The Government is investing in New Zealand’s economic security by ensuring climate change funding moves away from short-term piecemeal responses and towards smart, long-term investment.
The Government has welcomed Te Waihanga/New Zealand Infrastructure Commission’s first infrastructure strategy as a major milestone in building a more prosperous, resilient and sustainable future for all New Zealanders.
The resilience of the economy has continued to be reflected in the Crown’s accounts, though the full effects of the Omicron outbreak have yet to show up in the books which reinforces the need for balanced financial management.
The Government is continuing to support Air New Zealand as the majority shareholder by committing to participate in the national carrier’s proposal to raise capital and accelerate the recovery for the airline and the New Zealand economy.
Sixteen national and regional organisations have been awarded funding to increase opportunities for young people with disabilities in sport and recreation.
The Government’s efforts to support the recovery have been reflected in the solid rebound in GDP today which shows the economy remains resilient as we look to the next stage of the recovery with the opening of our borders and return of tourists.
The Government will cut 25 cents a litre off fuel for three months as part of a cost of living package aimed at giving Kiwi families immediate relief through the current global energy crisis triggered by the war in Ukraine.