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Source: New Zealand Government

Budget 2022 will help build a high wage, low emissions economy that provides greater economic security, while providing support to households affected by cost of living pressures.

Our economy has come through the COVID-19 shock better than almost anywhere else in the world, but other challenges, both long-term and more immediate, have come to the fore. This Budget responds to those challenges.

At the heart of this year’s Budget is our cost of living package, designed to ease the pressure on New Zealanders in the face of global inflation. The Budget also includes investments that secure our future, including our largest ever investment in the health system and Pharmac, and initiatives to ensure we’re on course to build a low emissions economy. On top of this, we continue to carefully manage the books, keeping debt low and with a forecast return to surplus with balanced spending decisions.

This Budget strikes a careful balance, building on our successful response to COVID-19 in continuing to support New Zealanders through a tough period, but also looking forward to supporting New Zealanders to seize the opportunities of a more secure future.