2017 New Zealand budget explained

New Zealand budget
Year:	2017
Country:	New Zealand
Previous Budget:	2016 New Zealand budget
Previous Year:	2016
Next Budget:	2018 New Zealand budget
Next Year:	2018
Submitter:	Steven Joyce
Presented:	25 May 2017
Parliament:	New Zealand Parliament
Party:	National
Surplus:	$1.8 billion^[1]
Url:	Budget 2017
Below:	^ǂNumbers in italics are projections.

The New Zealand budget for fiscal year 2017/18 was presented to the New Zealand House of Representatives by Finance Minister Steven Joyce on 25 May 2017.^[2] It was the ninth budget of the Fifth National Government, and the first presented by Joyce in his role as Minister of Finance. This was the last budget presented by the Fifth National government which was defeated at the 2017 general election.

Major announcements

Economic Development and Infrastructure

• $812 million for repairs to State Highway 1 and the Main North rail line between Picton and Christchurch following the November 2016 Kaikōura earthquake.^[3]
• $102 million over four years to help develop tourism-related infrastructure such as car parks, toilets and waste facilities.^[4]
• $436 million to the City Rail Link project.^[5]

Environment

• $76 million over four years for Department of Conservation tourism-related infrastructure.^[6]

Finance and Government Administration

• Personal income tax thresholds adjusted to give tax cuts from 1 April 2018. New rates are 10.5% on the first $22,000 of income (previously $14,000), 17.5% on income between $22,001 and $52,000 (previously $48,000), 30% from $52,001 to $70,000 (no change), and 33% from $70,001 and up.^[7]

Health

• $60 million over four years to increase Pharmac's pharmaceutical subsidy budget.^[8]
• $59.2 million over four years to enable double-crewing of all emergency ambulances.^[9]

Māori, Other Populations and Cultural

• $10.1 million to upgrade Archives New Zealand's and the National Library of New Zealand's long-term storage facilities.^[10]

Social Development and Housing

• Investing NZ$194 million for Social Development initiatives including $64 million to put people into employment and $38 million for the development of a new Social Investment Agency.^[11]
• NZ$185 million for social housing including expanding the Housing First programme and a housing pathway for newly-released inmates.

Reaction

As is tradition, the Leader of the Opposition, Andrew Little, moved a motion of no confidence in reply to the Budget speech.

External links

• New Zealand Treasury - Budget 2017

Notes and References

1. Web site: Budget At a Glance. 26 May 2016. 12 June 2019. https://web.archive.org/web/20161220083819/http://www.budget.govt.nz/budget/pdfs/budget-at-a-glance/b16-at-a-glance-hr.pdf. 20 December 2016. dead.
2. News: Date for Budget 2017 revealed . 8 February 2017 . The New Zealand Herald . 3 May 2017.
3. News: Simon . Bridges . Simon Bridges . Budget funds crucial South Island Transport link . New Zealand Government . 27 April 2017 . 25 May 2017.
4. News: Paula . Bennett . Paula Bennett . Budget 2017: $178m package for tourism infrastructure . New Zealand Government . 11 May 2017 . 25 May 2017.
5. Web site: Budget At a Glance. 2017. New Zealand Treasury.
6. News: Maggie . Barry . Maggie Barry . Budget 2017: $76m for DOC tourism infrastructure . New Zealand Government . 11 May 2017 . 25 May 2017.
7. Web site: Budget 2017: Family income and tax package - by the numbers . Stuff.co.nz . 25 May 2017 . 25 May 2017.
8. News: Jonathan . Coleman . Jonathan Coleman (politician) . Budget 2017: $60 million more for Pharmac . New Zealand Government . 7 May 2017 . 25 May 2017.
9. News: Jonathan . Coleman . Michael . Woodhouse . Peter . Dunne . Budget 2017: Double crewing for road ambulance . New Zealand Government . 14 May 2017 . 25 May 2017.
10. News: Peter . Dunne . Budget 2017: $10.1 million to preserve New Zealand’s documentary heritage . New Zealand Government . 15 May 2017 . 25 May 2017.
11. Web site: Budget 2017 at a glance . . 4 June 2019.