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Mr Speaker,

I move that the Appropriation (2014/15 Estimates) Bill be now read a second time.

It’s a privilege to deliver the National-led Government’s sixth Budget.

It’s a particular privilege because this is the first Budget in six years to focus on managing a growing economy rather than recovering from a domestic recession and then the global financial crisis.

A growing economy supports employment and higher wages. It provides opportunities for families. And it pays for public services that New Zealanders rely on.

The success of the Government’s share offer programme provides a further $1 billion of new capital investment in Budget 2014 without the need to borrow more from overseas lenders, Finance Minister Bill English says.

“The share sale proceeds saw $4.7 billion go to the Future Investment Fund and we said we would spend $1 billion of that on schools, and a further $1 billion on health,” he says.

Housing initiatives in Budget 2014 will lower the cost of housing, improve access to social housing for vulnerable families, and support the growing economy, Finance Minister Bill English says.

The Budget’s housing package temporarily removes tariffs and duties on building materials covering 90 per cent of a new home’s construction, provides new funding to increase the community housing sector, and increases administrative support for social housing tenants.

The Government has confirmed it will stick to its $1 billion new operating allowance in Budget 2014 and the allowance will increase to $1.5 billion in Budget 2015, Finance Minister Bill English says.

The allowance will then increase by 2 per cent each Budget.

“These modest increases in spending meet the Government’s objective of reducing net debt to 20 per cent of GDP by 2020, and will not materially affect interest rates,” Mr English says.

Investing almost $500 million more in the well-being of New Zealand’s children and families is at the heart of new spending in Budget 2014, Finance Minister Bill English says.

“Families will benefit from a growing economy offering more jobs and higher wages, and it is also appropriate that they are among the first to benefit from extra government spending as the economy picks up,” he says.

Balanced and responsible management of the New Zealand economy continues, allowing more investment in families and public assets (All figures for four years to 2017/18 unless otherwise stated).

Looking ahead to the results of responsible economic management

Budget 2014 focuses on managing New Zealand’s growing economy by returning the Government’s books to surplus next year and making important investments in families and public assets, Finance Minister Bill English says.

“The Government has moved from managing our way out of recession to managing a growing economy,” he says. “We’ve made significant progress in recent years that is delivering more jobs and higher incomes.

Good afternoon. It’s a pleasure to be with you again today.

I would like to thank John and Raewyn and their team at the Wellington Employers’ Chamber of Commerce for inviting me to speak to you again this year.

I also want to acknowledge the Chamber’s work in promoting the Wellington business community and in grappling with issues affecting businesses in the capital city.

It’s great to see measures of business confidence in Wellington rising.

Finance Minister Bill English will deliver Budget 2014 on Thursday, 15 May, he announced today.

“This will be the National-led Government’s sixth Budget and it will remain focused on delivering sensible policies that support a more competitive and faster-growing economy, more jobs, higher incomes and opportunities for New Zealand families,” he says.

“The Government’s programme is delivering results, but achieving our potential will require consistent and positive change for several years to come.