Imagine your own household where costs have spiralled, savings have thinned and too much has been borrowed to cover everyday expenses.
The priority has to be to rein in that borrowing and start putting money towards the things that really matter. Turning that around takes discipline and a focused plan. You stop the waste, make responsible choices and start investing for your future.
That’s the approach our Government is taking. Budget 2025 is an important step in our plan to restore confidence in our economy. We are focused on building strong foundations and prioritising what matters most to everyday New Zealanders. It is about doing the hard work now so families and communities can thrive in the years ahead.
New Zealand’s economic outlook is improving. Inflation and interest rates are easing, wages are now growing faster than prices and economic growth is forecast to average 2.7 percent. Over the next few years, we expect to see 240,000 new jobs created. This Budget builds on that momentum by investing in areas that deliver long-term benefits.
One key initiative is Investment Boost. This gives tradies, farmers and small businesses tax incentives to invest in new tools and equipment, helping to lift productivity and create better-paying jobs.
The impact of this Budget will be felt in households across the country, including right here in Mt Albert.
We are delivering targeted cost-of-living support, including increased Working for Families payments for more than 142,000 families. Prescription renewals will now last 12 months, which will save both time and money at the doctors. We are also expanding the rates rebate scheme, allowing up to 66,000 more SuperGold Card holders to benefit.
Budget 2025 includes strategic investment in frontline services. There is a major boost to learning support for children with additional needs (which will be very welcome news for all the schools in Mt Albert who raised this issue with me), more maths teachers and tutoring to lift achievement and a $600 million investment in the rail network. This includes key upgrades in Auckland to improve reliability, reduce congestion and support future growth. There is also increased funding for Police to help keep our communities safe.
This is not about quick fixes. It is about focusing on the essentials and strengthening the foundations of our economy. The Government is committed to careful financial management by finding savings and ensuring that funding goes where it is needed most.
I will be joining Finance Minister Hon Nicola Willis, along with my colleagues Hon Paul Goldsmith and Dr Carlos Cheung MP, at a Post-Budget Public Meeting on Wednesday 12 June. I encourage you to come along to hear directly from the Minister, ask questions and learn more about what Budget 2025 means for you, your family and our Mt Albert community.
(Hon Melissa Lee) National List MP based in Mt Albert
Authorised by Melissa Lee, Parliament Buildings, Wellington
MPLee@parliament.govt.nz
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