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Free AccessSummary Of Pre-Budget Comments
The following table lists some of the key pre-Budget comments from New Zealand's Cabinet:
Date | Minister | Comment/Spending Pledge |
4 May 2021 | NZ$926mn in unspent money allocated in the Covid-19 Response and Recovery Fund to be reprioritised in Budget 2021 | |
4 May 2021 | "The Prime Minister has asked me to lead the establishment an Implementation Unit based in her department. The Unit will be funded through Budget 2021 and will monitor and support implementation of a small number of critical initiatives." | |
6 May 2021 | "The Crown accounts for the nine months to the end of March 2021 show both OBEGAL and the operating balance remain better than forecast in the Half Year Economic and Fiscal Update (HYEFU) released in December last year. (…) Budget 2021 will reflect the economic conditions and revenue situation and take a balanced approach that continues to emphasise spending to areas and people where it is needed most alongside careful fiscal management." | |
8 May 2021 | Health Minister Andrew Little |
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10 May 2021 | "Our better than expected economic recovery does provide us with more options. There is a bit more space in our operating and capital allowances to support the economy in line with our wellbeing approach while also providing further scope to keep a lid on our higher debt levels and then lower it once the recovery is secure." | |
10 May 2021 | "As part of this balanced approach it is important to recognise that not all of our manifesto commitments will be able to be funded within one budget. (...) I think it is helpful to view the three Budgets that I will deliver this term as a package to achieve our goals. (...) I have said in the past that this Government will not implement austerity measures (...) before the recovery is secure. (…) At the same time there is some more scope to keep a lid on debt and look towards a faster reduction in that debt once the recovery is secure. In our view, an investment-focused recovery that supports all New Zealanders is the way to ensure that our finances remain sustainable." | |
12 May 2021 | Education Minister Chris Hipkins | NZ$170mn for early childhood education over the next four years |
| 13 May 2021 | "Budget 2021 will be a continuation of our work to support the recovery, but will see our response become more targeted. (…) Not all our commitments will be met in this budget. The past three years have demonstrated the benefits of careful management and targeted investment." | |
16 May 2021 | Climate Change Minister James Shaw | NZ$67.4mn for allowing the public sector to reach climate neutrality by 2025 |
19 May 2021 | Covid-19 Minister Chris Hipkins | NZ$1.4bn for Covid-19 vaccines over the next two years |
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.