Waikato business leaders chew over Budget 2026’s regional impact

Saturday, 30 May 2026

Craigs Investment Partners investment director Mark Lister (L) and Westpac institutional and business banking managing director Reuben Tucker at the Waikato Chamber of Commerce event.

Waikato is one of the winners to come out of Budget 2026, a banking boss has told regional business leaders.

“It's regions like the Waikato that drive the creation of wealth in this country,” said Westpac’s Reuben Tucker, “particularly productivity, exports, innovation and industry from the ground up.”

The institutional and business banking managing director dissected the Budget’s regional impact for about 90 people at a Waikato Chamber of Commerce breakfast on Friday morning.

The even was held the day after the coalition unveiled its third Budget, including the announcement $1.773 billion in funding has been committed to extending the Waikato Expressway south to Piarere - news met with open arms around the region.

Tucker said the Waikato was ‘the heart of New Zealand’s economic engine room’.

Tucker told the Waikato Times before Friday’s event kicked off it was a “great” Budget for the region.

It was the “back in black” Budget, he said, referring to the Government forecasting its books would return to surplus a year earlier than previously expected.

Asked what it meant for the region and wider New Zealand, Tucker said it signalled confidence in the future during an uncertain time.

Both speakers said the Budget signalled businesses would need to become more resilient towards external shocks.

“Having that confident outlook towards [2028/29] is really important and will support investment and we need that confidence to keep driving the New Zealand economy.”

Speaking to the wider economic climate, he said the world needed food and the Waikato was in a position to play a big part in providing it.

Tucker said it was a ‘great’ budget for the Waikato region.

People should not lose sight of supporting growth for the region, he added, but it was important to also look at Waikato’s potential role as a key logistics centre, joining up the broader regional economy.

During his presentation, he told attendees the region was “the heart of New Zealand’s economic engine room”.

But geography alone could not create prosperity, he said.

Hamilton City mayor Tim Macindoe was one of the attendees at the event.

“The opportunity needs to be there to unlock investment, particularly in transport infrastructure, it's roads, rail freight corridors - these are all the arteries of productivity.”

He was pleased to see a “significant” increase into capital expenditure on key economic infrastructure such as the Waikato Expressway alongside investment in education, health, and defence.

However, there was also a clear implication in the Budget for businesses.

Mark Lister described Budget 2026 as ‘prudent’ and frugal’.

“We can no longer assume government support will always be there to protect us in the event of an external shock, whether that shock’s trade related, energy related or climate related,” he said, adding that resilience would be important.

“Businesses will need stronger balance sheets, more diversified supply chains, greater energy resilience, more disciplined investment decisions - but importantly, periods of disruption also create enormous opportunity.”

“We see this as a region where if we get it right in the Waikato, the rest of the economy is going to come with it, so this is a good budget for New Zealand.”

Also speaking at the event was Craigs Investment Partners investment director Mark Lister. He spoke briefly about the Budget before looking at the broader fiscal environment for businesses and investors.

He described Budget 2026 as “prudent” and “frugal”, with limited new spending and no significant cost of living relief.

“Many would say a realistic budget - I think that's largely what we all expected,” he said, adding the Government was looking to position itself as the “adult in the room” prior to the general election.

“It will keep those people happy that are really looking for something different to what we've maybe seen in recent years where you've had a little bit too much freedom of the strings.”

Asked what budget announcement business should be paying attention to, Lister replied “nothing actually stands out to me if I’m brutally honest”.

He echoed Tucker’s sentiment the Budget signalled businesses would need to become more resilient.

“I think it’s just a reminder that all businesses and investors alike, we’ve got to be in control of our own destiny.”

Looking to the general election now the Budget was out of the way, he said he expected more policy announcements.

“I think this election will be fought on how we look after the government books.”