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Introduction

I would like thank the EMA for the invitation to speak here, and thanks to all of you for coming along today.

Mr Speaker, I move that the Appropriation (2018/19 Estimates) Bill be now read a second time.

Health, education, housing and other critical public services receive overdue investments today, says Finance Minister Grant Robertson.

Responsible decision-making and a strong economy will deliver a forecast $3.7 billion surplus in 2018/19, up from $3.1 billion forecast in the current year, says Finance Minister Grant Robertson. 

Public consultation will be launched in August on establishing an independent body to better inform public debate in our democracy, Associate Finance Minister James Shaw announced today.

The Coalition Government will invest $42 billion in net capital spending over the next five years to support our plan to rebuild New Zealand’s infrastructure and critical public services, Finance Minister Grant Robertson said today.
The Government’s accounts continued to perform slightly better-than-expected in the nine months to the end of March, with the surplus $910 million higher than the Treasury forecast in December, Finance Minister Grant Robertson says.

Thank you all for coming this morning and special thanks to Westpac for hosting us today.

Budget 2018 will set out the Coalition Government’s plan to transform the economy and rebuild our neglected public services so that we can improve the living standards of all New Zealanders, Finance Minister Grant Robertson said today.

Kia Ora, good afternoon, it’s good to be back in Dunedin.

Minister of Finance Grant Robertson has welcomed the IMF’s Concluding Statement, released following its annual visit, which provides an independent assessment of the strength of the New Zealand economy.

The Government has begun winding down public funding for large-scale irrigation through Crown Irrigation Investments Limited (CIIL), in line with the Coalition Agreement and the Confidence & Supply Agreement.

The Government’s accounts continued to track slightly better than expected in the eight months to the end of February, with the Government surplus nearly $500 million higher than the Treasury forecast in December, Finance Minister Grant Robertson says.

Finance Minister Grant Robertson and incoming Reserve Bank Governor Adrian Orr today signed a new Policy Targets Agreement (PTA) setting out specific targets for maintaining price stability and a requirement for employment outcomes to be considered in the conduct of monetary policy.

The 2018 Investment Statement He Puna Hao Pātiki, shows how the Treasury is moving towards a more holistic way of assessing the Government’s balance sheet, by incorporating principles from the Living Standards Framework alongside financial considerations, Finance Minister Grant Robertson says.

Investments in sensitive land involving forestry rights will be brought into the scope of the Overseas Investment Act under changes proposed today by Associate Finance Minister David Parker.

The Government’s target, to reduce the proportion of children in poverty from 15% now to a world-leading 5% within ten years, remains unchanged following Treasury’s corrected and updated projections, Prime Minister Jacinda Ardern says.

Stronger employment growth and residential investment continued to support the Government’s financial accounts in the seven months to the end of January, Finance Minister Grant Robertson says.

Cabinet has agreed to changes to the treatment of overseas investments in forestry rights that will see them brought into the Overseas Investment Act screening regime.

Dr Chris Eichbaum has been appointed to the Board of the Reserve Bank of New Zealand, Finance Minister Grant Robertson says.

Minister of Finance, and Sport and Recreation, Grant Robertson, today departs for the Republic of Korea and then Singapore to meet with political and business leaders and to attend the Winter Olympic Games.

Thank you very much for the invitation to speak today.

Thank you for inviting me here to speak today. I’d like to acknowledge the Mayor of Hamilton Andrew King, MP Jamie Strange, Deputy Mayors and City and Regional Councillors.