Budget 2023 highlights: What's in it for YOU?
The key highlights:
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Extension of 20 hours Early Childhood Education to include 2-year-olds - $1.2b
Abolition of $5 prescription co-payment - $619m
Cheaper public transport for children - $327m
$71b in infrastructure spending
Inflation forecast to stay higher, for longer
Net core Crown debt hits $181b
The cost of living package targets families with young children.
For parents
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Two-year-olds included in 20 hours of free early childhood education from March 2024, at a cost of $1.2 billion over four years. This saves eligible parents about $133 a week. Subsidies for childcare centres rise by 5.3 per cent, costing $260 million over four years.
Public transport
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$327 million for free public transport for primary school-aged children, half price public transport for under 25′s from 1 July - benefiting about 774,000 people. Pay rises for bus drivers.
Health
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Removing $5 co-payment for prescriptions, cost: $618 million over four years.
More money to help reduce waiting lists ($118 million) and $100 million to boost primary care. $63 million for 500 extra nurses. $75 million more for Pharmac.
The tax change
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Tax rate for trustees to increase to 39 per cent from April 2024 - the same as the top income tax rate. Aimed at stopping people using trusts for their income to avoid the higher tax rate. Expected to raise $350 million a year.
Post-cyclone infrastructure
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National Resilience Plan set up with initial funding of $6 billion - first priority is repair and rebuild of telecommunications, energy and roading after Auckland flooding and Cyclone Gabrielle.
Housing
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$403 million to expand scheme for heating and insulation installations to 100,000 more homes. 3000 new public housing places.
The economy
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Inflation is forecast to drop to 3 per cent by next September.
Treasury no longer forecasting a recession, due to cyclone recovery. Unemployment is forecast to peak at 5.3 per cent in late 2024.
GDP is forecast at 3.2 per cent this year, dropping to 1 per cent next year.
The books
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Return to surplus forecast in 2025/26. Net debt is forecast to peak at 22 per cent in 2024.
The surprises
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$34 million increase in funding for Te Matatini (over two years) - up from $3 million a year now. The festival will get more funding than the NZ Symphony Orchestra for the first time.
New 20 per cent rebate for game development studios - allowing them to claim up to $3 million a year in rebates.
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Scam Alert: Fake information regarding December Bonuses from MSD
The Ministry of Social Development is reporting that fake information is circulating about new ‘December bonuses’ or ‘benefit increases’
If you get suspicious communication, please contact Netsafe.
Poll: Are Kiwis allergic to “exuberance”? 🥝
In The Post’s opinion piece on the developments set to open across Aotearoa in 2026, John Coop suggests that, as a nation, we’re “allergic to exuberance.”
We want to know: Are we really allergic to showing our excitement?
Is it time to lean into a more optimistic view of the place we call home? As big projects take shape and new opportunities emerge, perhaps it’s worth asking whether a little more confidence (and enthusiasm!) could do us some good.
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41.5% Yes
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33.6% Maybe?
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24.9% No
Tips and advice to stay street smart this summer
Summer is finally here!
Time for BBQs, holidays, Christmas, travelling and events galore.
We've put together a whole range of tips and advice so you can put your feet up and relax this summer, knowing that it's all good in your hood.
Our first piece of advice to make your neighbourhood safer this summer, is to get to know the people who live around you! People who know each other are more likely to offer, accept, and ask for help when needed.
Shop Safe - Preventing Fraud & Scams
You might find yourself making more purchases than usual at this time of year, and many of those might be online, so here's a set of tips and advice to make sure you stay safe and secure whilst doing your Christmas shopping this year. And remember to think about the security of your online shopping when it gets delivered!
Heading away this summer?
It's a busy time of year on new Zealand roads and everyone wants to get from A to B safely. It's also important that your home stays safe while you're away enjoying your 'home away from home'. We have put together a set of tips and advice to help make that happen!
Keeping your car, home and belongings safe
From recording valuable possessions to securing locks, keeping valuables hidden and informing trusted neighbours that you will be away, there are many things you can do to keep your car, home, and belongings safe. Here's a bunch of handy tips!
Party planning checklist and fire-wise tips
Whether it’s a small backyard gathering, or a big celebration for a special occasion, a little extra planning and consideration will go a long way in keeping you, your guests, and your neighbours happy. We also have some tips to make sure you and your families stay fire-wise during summer.
Get to know your neighbours - look out, reach out, help out
The most important action you can take to make your community safer is get to know the people who live around you. People who know each other are more likely to offer, accept, and ask for help when needed.
It is also important to know who to contact in an emergency and when to use the non-emergency contact for NZ Police. Learn more about Neighbourhood Support, get tips on getting to know your neighbours and the best way to contact the police below.
Strong communities start with small hellos
In terms of crime prevention, your neighbours are the best and cheapest security system you can have. You don't have to love your neighbour, but at least get their number just in case!
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Have a happy, safe and connected summer!
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