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Earthquake Commission (EQC) levies will increase from 1 November to help rebuild its Natural Disaster Fund (NDF), which has been depleted following the Christchurch and Kaikōura earthquakes.

“EQC has provided huge support to New Zealanders following the Christchurch, Seddon, and Kaikōura earthquakes, but in the process it has exhausted its reserves,” Finance Minister Steven Joyce says.

The Government’s $2 billion per year Family Incomes Package will make changes to tax thresholds, Working for Families and the Accommodation Supplement to help Kiwi families get ahead, Finance Minister Steven Joyce says.

“It is important that Kiwi families directly share in the benefits of New Zealand’s economic growth,” Mr Joyce says. “The Family Incomes Package is carefully designed to especially assist low and middle income earners with young families and higher housing costs.”

The Government is allocating $4 billion in new capital spending as part of Budget 2017 as it builds the infrastructure for a growing economy, Finance Minister Steven Joyce says.

“This $4 billion investment is the single biggest investment of new capital in one Budget by any government in decades,” Mr Joyce says. “And it’s just the beginning. We have reserved a further $7 billion in new capital for the following three Budgets.”

The new capital spending in Budget 2017 includes:

The Government is allocating $7 billion over four years in Budget 2017 to sustain and expand public services in health, education, law and order and social development, as part of our commitment to deliver better public services for a growing country, Finance Minister Steven Joyce says.

“This investment reflects our commitment to meet the requirements of a growing population while also investing prudently in the core services Kiwis rely on in order to live successful independent lives,” Mr Joyce says.

The Government’s programme of responsible fiscal management is delivering for New Zealanders, with rising surpluses and falling debt improving our resilience and giving us more opportunities to invest in our future, Finance Minister Steven Joyce says.

“New Zealand’s steadily strengthening economy is allowing us to provide the public services and infrastructure needed for a growing country,” Mr Joyce says.

Mr Speaker

I move that the Appropriation (2017/18 Estimates) Bill be now read a second time.

It is an honour and a privilege to present my first budget to the public of New Zealand – the ninth of this National-led Government.

In doing so I acknowledge my predecessor and our new Prime Minister Bill English for his hard work and leadership in facing down the decade of deficits, bringing New Zealand successfully through the Global Financial Crisis, and responding to the impacts of the Canterbury earthquakes.

Budget 2017 is delivering for New Zealanders with significant investments in public services and infrastructure, and a Family Incomes Package that will help them get ahead, Finance Minister Steven Joyce says.

“Our economy is performing well and that’s a tribute to the hard work of New Zealanders,” Mr Joyce says. “We have experienced positive growth in all but one quarter over the last six years.

Good afternoon.

Thank you John and Peter and the Wellington Chamber of Commerce.

Special guests, Ladies and Gentlemen. It’s a pleasure to be here.

Budget 2017 is now just under one month away and preparations are continuing.

I have four key areas I am thinking about in getting ready for this year’s Budget.

First, delivering better public services for a growing country – providing all New Zealanders with the opportunity to lead successful independent lives.