Maureen Pugh, West Coast – Tasman MP
Driving economic growth to help Kiwis get ahead is at the heart of this year’s Budget. It is only by growing the economy that we can create jobs, deal with the cost of living, and invest in the frontline services like schools, hospitals, roads and Police that Kiwis deserve.
After a tough few years our economy is starting to recover, thanks to careful financial management. Inflation and interest rates are down, wages are growing faster than inflation, and growth is expected to average 2.7%, creating 240,000 new jobs over the next few years. However, we cannot take that recovery for granted, which is why this year’s Budget is firmly focused on economic growth.
A key part of that is Investment Boost, which gives tradies, farmers, and other businesses a tax incentive to invest in new tools and equipment to boost productivity and lift wages. We’re also driving growth through investment in new infrastructure such as roads and schools, growing tourism, and supporting tech startups and the film sector.
Just like Kiwi households have had to do, our Government has to live within our means and make tough choices about where we spend money. By finding savings we’re able to invest in frontline services on the West Coast, with a major boost to learning support for children with additional needs, more maths teachers and tutoring, new and improved access for urgent medical care, and more support for Police.
Targeted cost of living support is also being delivered. Rates rebates for seniors will increase and be extended to up to 66,000 more SuperGold Card holders. Working for Families payments will increase for 142,000 families. And we’re extending prescriptions to 12 months to save time and money at the doctors.
Budget 2025 is focused on making the careful investments Kiwis need now in order to bed-in an economic recovery that will help New Zealanders get ahead. When we have economic growth, every New Zealander will benefit.
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