The Finance Minister Nicola Willis has announced the details of this year's budget.
Finance Minister Nicola Willis has confirmed that Budget 2025, dubbed the Growth Budget, will be delivered on Thursday, May 22. The Budget aims to drive forward the Government's economic growth plan and secure New Zealand's future prospects. According to the Minister, the Budget will build on previous efforts to repair the country's fiscal situation, left in a "spiral of deficits and debt" by the previous government.
The Budget is expected to introduce legislative and regulatory measures to remove barriers hindering job and wealth creation for New Zealanders. These steps are part of the Government's plan to address long-standing productivity challenges and focus on economic growth beyond traditional spending and savings initiatives. The Minister also highlighted the importance of advancing social investment measures to improve the lives of those in greatest need.
The Budget Policy Statement 2025, released on December 17, outlines the Government's priorities for this year's budget. With just weeks to go until its release, businesses and individuals alike are eagerly awaiting the details of Budget 2025 and how it will impact New Zealand's economic landscape.