MIL OSI – Source: New Zealand Government – Budget 2015
On 21 May, Finance Minister Bill English will deliver the National-led Government’s seventh Budget.
New Zealand’s strong, growing economy, backed by the Government’s clear economic plan, is translating into real benefits for households and businesses.
We’re currently doing well compared to other developed economies – however a few years of good economic growth is not enough – there is still much more to do.
Budget 2015 will set out the next steps in the National-led Government’s economic programme.
The Government’s focus remains front and centre on ensuring the economy continues to perform well.
That’s because it’s only through a strong, growing economy that we’re able to create more jobs, lift wages and deliver better public services to those who need them most.
It also means we’re able to deliver important policies that provide opportunities for more New Zealanders and their families to get ahead.
In his pre-Budget speech on 14 April, Prime Minister John Key outlined some important announcements ahead of Budget 2015.
Two of the most important ways we can achieve sustainable, long-term growth are through innovation and investing in the education of our young people.
Prime Minister John Key announced the Government will provide another $244 million over the next four years for:
- Seven new schools for 4,000 extra students in Auckland, Hamilton, Whakatane, Gisborne, Hastings, and Canterbury.
- Major expansions at four other schools in Auckland, Papamoa and Queenstown.
- An extra 241 classrooms at existing schools right across New Zealand.
He also announced the Government will invest another $80 million over four years in encouraging more private sector research and development (R&D). This is on top of the $566 million already committed to private sector R&D grants over four years.
It also means the National-led Government has boosted science funding significantly – this year it will total $1.5 billion – a 70 per cent increase since 2008.