No, we haven’t fully analysed Budget 2022, but we did listen to Finance Minister Grant Robertson’s speech.
He took great pride in announcing his fifth Budget invests $5.9 billion a year in net new operating spending, while introducing multi-year funding packages that also draw from Budget 2023 and Budget 2024 operating allowances.
The government is investing $2.9 billion from the Climate Emergency Response Fund to meet its Emissions Reduction Plan and lay the foundations for the long-term transition to a low-emissions, high-wage economy.
And it is supporting New Zealanders “to meet the rising cost of living caused by global inflation pressures” through a targeted package of support focusing on low- and middle-income New Zealanders, including a short-term Cost of Living Payment for around 2.1 million people.
Interesting language. He talks of problems caused by “global” inflation pressures.
Perhaps we missed the money he is providing to help us meet the rising cost of living caused by domestic inflation pressures.
But when it comes to the grand total, Treasury tables show total Crown expenses (excluding losses) are reckoned to be $154.9 billion in 2021/22 (to June 30), rising to $158.5 billion in 2022/23 and $163.5 billion in 2023/24.
Accompanying the speech was a flow of press statements from ministers keen to let the voting public know what slice of the cake they would be serving to stakeholders (to use the parlance of the spin doctors) in their various portfolios…
LATEST FROM THE BEEHIVE
20 MAY 2022
Morena tatou katoa. Kua tae mai i runga i te kaupapa o te rā.
19 MAY 2022
Navigating difficult times, while also making necessary progress. Dealing with the unexpected, and always, always planning for the future. Challenges not least of which include a one in 100 year health crisis, followed by the biggest economic shock since the Great Depression. And just as the world was recovering, it’s been plunged into the uncertainty of war.
It is my great pleasure to present New Zealand’s fourth Wellbeing Budget.
… and the press statements
19 MAY 2022
Urgent Budget night legislation to stop major supermarkets blocking competitors from accessing land for new stores has been introduced today.
Budget 2022 provides funding to implement the new resource management system, building on progress made since the reform was announced just over a year ago.
The Government is substantially increasing the amount of funding for public media to ensure New Zealanders can
Budget 2022 sees significant resources made available for the Defence Force to maintain existing defence capabilities as it looks to the future delivery of these new investments.
The Government is investing in a thriving, adaptive and enduring arts, culture and heritage sector through Budget 2022.
Budget 2022 delivers a package of investment to improve the coronial system and reduce delays for grieving families and whānau.
“Budget 2022 demonstrates the Government’s commitment to deliver change for the disability community with the establishment of a new ministry,” Minister for Disability Issues Carmel Sepuloni said.
Four major milestones in the Government’s reform of the education system will give every New Zealander the best chance to succeed, Education Minister Chris Hipkins announced today.
The Government is backing new integrated advisory services for farmers, foresters, and growers, supporting innovation and strengthening the animal welfare system.
Budget 2022 sees more New Zealanders able to access support to get into their first home because of changes to First Home Grants and First Home Loans.
Budget 2022 takes further action to reduce child poverty and make New Zealand the best place in the world to be a child.
Researchers and businesses working in the rapidly developing field of RNA technology will benefit from a new research and development platform, funded in Budget 2022.
A new fund to improve access to finance for small and medium businesses is included in a package of Budget 2022 initiatives to drive economic security, innovation, and low-emissions growth.
Budget 2022 further strengthens the economic foundations and wellbeing outcomes for Pacific peoples in Aotearoa, as the recovery from COVID-19 continues.
Budget 2022’s investment in whānau Māori will lead to economic security for all of Aotearoa.
Increased infrastructure investment will continue to play a critical part in securing New Zealand’s recovery from COVID-19.
Budget 2022 invests in resetting our health system and gives economic security in good times and in bad.
Budget 2022 gives doctors, nurses and other health professionals working in our public health system the resources they need to get on with the job of looking after patients.
Budget 2022 provides secure funding for the future of New Zealand’s health system so every New Zealander can have access to the healthcare they need, no matter where they live.
A Budget 2022 cost of living package will help New Zealanders through the peak of the global inflation storm, with an estimated 2.1 million people aged 18 and over eligible for an extra $27 per week over a three month period.
A strong economy and successful response to the pandemic has given New Zealand a solid base to accelerate the recovery and create a high wage, low carbon economy.
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.