Government’s ‘Growth Budget’ to be released on May 22

Wednesday, 29 January 2025

The government’s budget for 2025 is set to be released on May 22.

Finance Minister Nicola Willis said the Growth Budget will “drive forward” plans to grow the economy.

She said it will contain “bold steps” that go beyond the traditional budget focus on spending and savings initiatives.

This year’s Budget will be released on May 22 and will be focused on growth.

Finance Minister Nicola Willis said on Wednesday it will “drive forward” plans to grow the economy to improve the incomes of New Zealanders.

“Budget 2025 will build on our efforts to secure New Zealand’s future prospects, continuing the fiscal repair job made necessary by Labour’s era of wasteful spending,” she said.

“We take seriously our responsibility to chart a path out of a spiral of deficits and debt left to us by the last government.

Willis said the budget will contain “bold steps” to support economic growth, and include measures to address New Zealand’s “long-standing productivity challenges”.

“These measures will go beyond the traditional budget focus on spending and savings initiatives,” she said.

“The Government intends to introduce several legislative and regulatory measures at the budget focused on removing barriers that hold back job and wealth creation for New Zealanders.”

She said the focus will be to address the cost of living, deliver effective health and education services and restore laws and order.

“We will advance new social investment measures to improve the lives of New Zealanders in the greatest need by getting better results from taxpayer-funded social services after six years of Labour Budgets focused almost exclusively on agencies spending more,” Willis said.

“Budget 2025 will be squarely focused on ensuring New Zealanders can earn more in the years ahead by growing our economy.”