{"id":13147,"date":"2025-05-22T20:54:42","date_gmt":"2025-05-22T08:54:42","guid":{"rendered":"https:\/\/williambuck.com\/nz\/?post_type=tools&#038;p=13147"},"modified":"2026-05-29T16:24:23","modified_gmt":"2026-05-29T04:24:23","slug":"new-zealand-budget-update-2026","status":"publish","type":"tools","link":"https:\/\/williambuck.com\/nz\/tools\/new-zealand-budget-update-2026\/","title":{"rendered":"New Zealand Budget Update 2026"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221;]<span style=\"font-size: 18pt;\"><span class=\"TextRun SCXW17331997 BCX8\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW17331997 BCX8\" data-ccp-parastyle=\"First Paragraph\" data-ccp-parastyle-defn=\"{&quot;ObjectId&quot;:&quot;276295ed-5df2-5456-988c-5fdbab071054|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:[201342448,&quot;1&quot;,469777842,&quot;Arial&quot;,469777843,&quot;Aptos&quot;,335551500,&quot;4278190080&quot;,268442635,&quot;24&quot;,335551547,&quot;1033&quot;,335559740,&quot;240&quot;,201341983,&quot;0&quot;,335559739,&quot;180&quot;,201342446,&quot;1&quot;,201342447,&quot;5&quot;,201342449,&quot;1&quot;,469777841,&quot;Aptos&quot;,469777844,&quot;Aptos&quot;,201341986,&quot;5&quot;,469769226,&quot;Aptos,Arial&quot;,335559738,&quot;180&quot;,469775450,&quot;First Paragraph&quot;,201340122,&quot;2&quot;,134234082,&quot;true&quot;,134233614,&quot;true&quot;,469778129,&quot;FirstParagraph&quot;,335572020,&quot;1&quot;,469775498,&quot;Body Text&quot;,469778324,&quot;Body Text&quot;]}\">Stability over stimulus in <\/span><span class=\"NormalTextRun SCXW17331997 BCX8\" data-ccp-parastyle=\"First Paragraph\">New Ze<\/span><span class=\"NormalTextRun SCXW17331997 BCX8\" data-ccp-parastyle=\"First Paragraph\">a<\/span><span class=\"NormalTextRun SCXW17331997 BCX8\" data-ccp-parastyle=\"First Paragraph\">land\u2019s election\u00a0<\/span><span class=\"NormalTextRun SCXW17331997 BCX8\" data-ccp-parastyle=\"First Paragraph\">year\u00a0<\/span><span class=\"NormalTextRun SCXW17331997 BCX8\" data-ccp-parastyle=\"First Paragraph\">budget<\/span><\/span><span class=\"EOP SCXW17331997 BCX8\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/span><\/p>\n<p><span data-contrast=\"auto\">Finance Minister Nicola Willis has anchored her third budget in economic responsibility and long-term resilience, finding operating cost savings while channelling investment into education, defence and energy security.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">With New Zealand businesses still navigating rising costs\u00a0due to\u00a0global market pressures\u00a0and\u00a0cautious consumers, the central ambition behind this\u00a0budget is\u00a0to create a\u00a0more stable economic environment that supports lower inflation, investor\u00a0confidence\u00a0and productivity growth.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Large new spending\u00a0programmes\u00a0and broad tax cuts have been set aside. Instead, Minister Willis has focused on fiscal discipline and selective investment in areas tied to New Zealand&#8217;s long-term growth.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">So, how does this budget affect you, your\u00a0business\u00a0and the economy?<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For many businesses, the last few years have been difficult due to rising interest rates, increasing wage pressures, supply chain disruptions, insurance and energy cost increases, reduced consumer confidence and <\/span><span data-contrast=\"auto\">ongoing labour shortages in key industries.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Although this Budget does not contain major direct tax relief for businesses, there are several important practical implications:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2026\" data-aria-level=\"1\"><span data-contrast=\"auto\">A more stable inflation environment\u00a0will help\u00a0reduce financing and borrowing pressures\u00a0in time<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2027\" data-aria-level=\"1\"><span data-contrast=\"auto\">Businesses involved in infrastructure, education, technology, energy and construction may benefit\u00a0from continued Government investment<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2028\" data-aria-level=\"1\"><span data-contrast=\"auto\">Businesses that rely heavily on discretionary consumer spending\u00a0will\u00a0still, in the near term,\u00a0experience softer trading conditions<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"1\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2029\" data-aria-level=\"1\"><span data-contrast=\"auto\">Public sector restructuring and spending restraint may create challenges for industries heavily exposed to Government expenditure<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_separator border_width=&#8221;2&#8243; css=&#8221;&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space height=&#8221;12px&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h1>This Budget&#8217;s four pillars<\/h1>\n<p>[\/vc_column_text][vc_empty_space][vc_tta_accordion active_section=&#8221;0&#8243; collapsible_all=&#8221;true&#8221;][vc_tta_section title=&#8221;Tax and policy changes&#8221; tab_id=&#8221;1779960794350-0714e0d6-ac62&#8243;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"none\">While there are no major reforms, several targeted changes have been introduced:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<ol>\n<li>Simplified Fringe Benefit Tax (FBT) rules\u00a0to reduce compliance burden<\/li>\n<li>Changes to the\u00a0R&amp;D tax incentive, allowing earlier access to credits<\/li>\n<li>Adjustments to\u00a0Foreign Investment Fund (FIF)\u00a0rules\u00a0to simplify offshore investment<\/li>\n<li>Introduction of a\u00a0prudential levy on banks<\/li>\n<\/ol>\n<p aria-level=\"3\"><b>Inflation and interest rates\u00a0remain\u00a0key concerns<\/b><\/p>\n<p><span data-contrast=\"auto\">Businesses have spent the past several years absorbing higher financing costs, increased wages, rising insurance premiums, increased supplier costs and reduced consumer demand.\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">One\u00a0of the Government\u2019s main\u00a0objectives\u00a0is to reduce inflationary pressure within the economy\u00a0to\u00a0<\/span><span data-contrast=\"auto\">help\u00a0<\/span><span data-contrast=\"auto\">lower borrowing costs,<\/span><span data-contrast=\"auto\">\u00a0improve<\/span><span data-contrast=\"auto\">\u00a0consumer confidence,<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">and provide<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">greater investment certainty.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The Government\u2019s approach suggests that economic recovery may be gradual rather than rapid.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p aria-level=\"3\"><b>Government spending restraint<\/b><\/p>\n<p><span data-contrast=\"auto\">The Budget includes continued efforts to reduce public spending growth and improve Government financial performance.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This creates both opportunities and risks:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"24\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2026\" data-aria-level=\"1\"><span data-contrast=\"auto\">businesses supplying efficiency solutions or productivity improvements may benefit<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"24\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2027\" data-aria-level=\"1\"><span data-contrast=\"auto\">infrastructure-related sectors may continue seeing opportunities<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"24\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2028\" data-aria-level=\"1\"><span data-contrast=\"auto\">industries reliant on public sector contracts may face reduced spending in some areas<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">Public sector restructuring may also\u00a0impact\u00a0employment conditions in certain sectors and regions.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p aria-level=\"3\"><b>Consumer spending environment<\/b><\/p>\n<p><span data-contrast=\"auto\">As\u00a0households continue to face cost-of-living pressures, this will\u00a0continue to\u00a0impact\u00a0businesses in discretionary spending sectors such as\u00a0<\/span><span data-contrast=\"auto\">retail,<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">hospitality,<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">tourism<\/span><span data-contrast=\"auto\">\u00a0and\u00a0<\/span><span data-contrast=\"auto\">entertainment<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">We are\u00a0advising\u00a0<\/span><span data-contrast=\"auto\">businesses<\/span><span data-contrast=\"auto\">\u00a0to\u00a0<\/span><span data-contrast=\"auto\">therefore\u00a0<\/span><span data-contrast=\"auto\">focus<\/span><span data-contrast=\"auto\">\u00a0on<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">margin protection,<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">inventory management,<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">pricing strategy, <\/span><span data-contrast=\"auto\">customer\u00a0retention<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">and\u00a0<\/span><span data-contrast=\"auto\">operational efficiency.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p aria-level=\"3\"><b>Practical business considerations<\/b><\/p>\n<p>For businesses, the message from Budget 2026 is clear. Managing cash flow, controlling costs and reviewing debt exposure remain fundamental priorities, while those that invest selectively in productivity, automation and their people will be best placed to benefit as conditions improve.[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Fiscal discipline with targeted investment&#8221; tab_id=&#8221;1653002310497-d13db610-53c8&#8243;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"auto\">The\u00a0<\/span><span data-contrast=\"auto\">economic outlook\u00a0remains\u00a0one of the most important aspects of Budget 2026\u00a0and the\u00a0Government\u2019s strategy\u00a0is\u00a0to\u00a0<\/span>keep spending tight today while investing in long-term growth.<\/p>\n<p><span data-contrast=\"auto\">Although\u00a0the Government\u00a0acknowledges\u00a0New Zealand continues to face economic pressures including\u00a0slow economic growth,\u00a0global uncertainty,\u00a0elevated living\u00a0and\u00a0business\u00a0operational\u00a0costs,\u00a0weak consumer\u00a0confidence\u00a0and\u00a0geopolitical risks,\u00a0they\u00a0remain\u00a0focused on tighter fiscal management\u00a0to\u00a0return the country\u2019s finances to a stronger position.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b>The Budget\u2019s\u00a0economic\u00a0goals:<\/b><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"22\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2026\" data-aria-level=\"1\"><span data-contrast=\"auto\">Return to surplus by 2028\/29<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"22\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2027\" data-aria-level=\"1\"><span data-contrast=\"auto\">Reduce\u00a0Government debt over time<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"22\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2028\" data-aria-level=\"1\"><span data-contrast=\"auto\">Additional spending limited to about $2.1 billion <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p>The Budget\u2019s major spending commitments focus\u00a0on\u00a0Infrastructure &#8211; including\u00a0roads, rail,\u00a0hospitals\u00a0and\u00a0schools\u00a0&#8211; and\u00a0on\u00a0core public services\u00a0such as\u00a0health and education.<\/p>\n<p><span class=\"TextRun SCXW198650754 BCX8\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW198650754 BCX8\">These investments are intended to<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">\u00a0<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">lift<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">\u00a0<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">productivity<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">\u00a0and e<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">nable\u00a0<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">long-term\u00a0<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">economic\u00a0<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW198650754 BCX8\">growth<\/span><span class=\"NormalTextRun ContextualSpellingAndGrammarErrorV2Themed SCXW198650754 BCX8\">,<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">\u00a0rather than deliver immediate stimulus<\/span><span class=\"NormalTextRun SCXW198650754 BCX8\">.\u00a0<\/span><\/span><span class=\"EOP SCXW198650754 BCX8\" data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Shifting focus to skills and workforce readiness&#8221; tab_id=&#8221;1589504204156-3af65c92-b563&#8243;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"auto\">The Government announced\u00a0additional\u00a0funding to strengthen\u00a0<\/span><span data-contrast=\"auto\">educational outcomes and improv<\/span><span data-contrast=\"auto\">e<\/span><span data-contrast=\"auto\">\u00a0long-term workforce readiness<\/span><span data-contrast=\"auto\">,<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><span data-contrast=\"auto\">repeatedly stat<\/span><span data-contrast=\"auto\">ing<\/span><span data-contrast=\"auto\">\u00a0that improving educational achievement is\u00a0directly linked\u00a0to improving productivity and economic growth over the long<\/span><span data-contrast=\"auto\">&#8211;<\/span><span data-contrast=\"auto\">term.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">T<\/span><span data-contrast=\"none\">h<\/span><span data-contrast=\"none\">e<\/span><span data-contrast=\"none\">\u00a0Budget\u00a0<\/span><span data-contrast=\"none\">shows\u00a0<\/span><span data-contrast=\"none\">a shift in education funding towards\u00a0<\/span>practical, job-ready skills:\u00a0<span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"12\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Provid<\/span><span data-contrast=\"auto\">ing<\/span><span data-contrast=\"auto\">\u00a0around\u00a0<\/span><span data-contrast=\"auto\">$2 billion\u00a0in\u00a0additional\u00a0education funding overall<\/span><span data-contrast=\"auto\">\u00a0<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"12\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\">End<span data-contrast=\"auto\">ing<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">the\u00a0<\/span><span data-contrast=\"auto\">final year of free university fees<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"12\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Increas<\/span><span data-contrast=\"auto\">ing<\/span><span data-contrast=\"auto\">\u00a0investment in<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">Trades Academies for\u00a0<\/span><span data-contrast=\"auto\">secondary<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">school students<\/span><span data-contrast=\"auto\">\u00a0and\u00a0<\/span><span data-contrast=\"auto\">Youth Guarantee\u00a0programmes<\/span><span data-contrast=\"auto\">\u00a0to support school leavers into training or work<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p>The Government&#8217;s goal is to get more young people into the workforce earlier, address ongoing skills shortages and align education more closely with industry needs.<\/p>\n<p aria-level=\"3\"><b>Why education matters to businesses<\/b><\/p>\n<p><span data-contrast=\"auto\">In our experience, many\u00a0New Zealand\u00a0businesses\u00a0are\u00a0struggling with\u00a0skills\u00a0shortages and recruitment difficulties, while labour costs\u00a0remain\u00a0one of their highest\u00a0operational expenses.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The\u00a0<\/span><span data-contrast=\"auto\">2026 B<\/span><span data-contrast=\"auto\">udget\u2019s\u00a0<\/span><span data-contrast=\"auto\">focus on\u00a0<\/span><span data-contrast=\"auto\">improving<\/span><span data-contrast=\"auto\">\u00a0educational outcomes\u00a0<\/span><span data-contrast=\"auto\">to\u00a0<\/span><span data-contrast=\"auto\">help strengthen the quality and capability of New Zealand\u2019s workforce<\/span><span data-contrast=\"auto\">\u00a0over time<\/span><span data-contrast=\"auto\">\u00a0<\/span>and<span data-contrast=\"auto\">reduce some of these long-term workforce pressures.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p aria-level=\"3\"><b>Potential opportunities for businesses<\/b><b>\u00a0<\/b><\/p>\n<p><span data-contrast=\"auto\">Businesses\u00a0operating\u00a0in the following sectors may benefit directly or indirectly:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"16\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2026\" data-aria-level=\"1\"><span data-contrast=\"auto\">education technology<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"16\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2027\" data-aria-level=\"1\"><span data-contrast=\"auto\">training providers<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"16\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2028\" data-aria-level=\"1\"><span data-contrast=\"auto\">vocational education<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"16\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2029\" data-aria-level=\"1\"><span data-contrast=\"auto\">trades and apprenticeships<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"16\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2030\" data-aria-level=\"1\"><span data-contrast=\"auto\">digital learning platforms<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"16\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2031\" data-aria-level=\"1\"><span data-contrast=\"auto\">tutoring and educational support services<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"16\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2032\" data-aria-level=\"1\"><span data-contrast=\"auto\">software and technology providers servicing schools<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><strong>There may also be future opportunities for businesses involved in:\u00a0<\/strong><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"17\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2026\" data-aria-level=\"1\"><span data-contrast=\"auto\">school infrastructure projects<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"17\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2026\" data-aria-level=\"1\"><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">educational consulting<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"17\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2026\" data-aria-level=\"1\"><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">curriculum support services<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"-\" data-font=\"Arial\" data-listid=\"17\" data-list-defn-props=\"{&quot;335551671&quot;:2026,&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Arial&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;-&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2026\" data-aria-level=\"1\"><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:36,&quot;335559739&quot;:36,&quot;335559740&quot;:240}\">workforce development programmes <\/span><\/li>\n<\/ul>\n<p><b>Long-term economic impact<\/b><\/p>\n<p><span data-contrast=\"auto\"><span class=\"TextRun SCXW195738073 BCX8\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\" data-ccp-parastyle-defn=\"{&quot;ObjectId&quot;:&quot;276295ed-5df2-5456-988c-5fdbab071054|1&quot;,&quot;ClassId&quot;:1073872969,&quot;Properties&quot;:[201342448,&quot;1&quot;,469777842,&quot;Arial&quot;,469777843,&quot;Aptos&quot;,335551500,&quot;4278190080&quot;,268442635,&quot;24&quot;,335551547,&quot;1033&quot;,335559740,&quot;240&quot;,201341983,&quot;0&quot;,335559739,&quot;180&quot;,201342446,&quot;1&quot;,201342447,&quot;5&quot;,201342449,&quot;1&quot;,469777841,&quot;Aptos&quot;,469777844,&quot;Aptos&quot;,201341986,&quot;5&quot;,469769226,&quot;Aptos,Arial&quot;,335559738,&quot;180&quot;,469775450,&quot;First Paragraph&quot;,201340122,&quot;2&quot;,134234082,&quot;true&quot;,134233614,&quot;true&quot;,469778129,&quot;FirstParagraph&quot;,335572020,&quot;1&quot;,469775498,&quot;Body Text&quot;,469778324,&quot;Body Text&quot;]}\">Although education investment does not usually create immediate economic returns, it is <\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">an<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">\u00a0important long-term productivity driver<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">,\u00a0<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">contribut<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">ing<\/span><\/span><span class=\"TrackedChange SCXW195738073 BCX8\"><span class=\"TextRun Highlight SCXW195738073 BCX8\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">\u00a0to<\/span><\/span><\/span><span class=\"TrackedChange SCXW195738073 BCX8\"><span class=\"TextRun Highlight SCXW195738073 BCX8\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">\u00a0<\/span><\/span><\/span><span class=\"TextRun SCXW195738073 BCX8\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">improved\u00a0<\/span><span class=\"NormalTextRun SpellingErrorV2Themed SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">labour<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">\u00a0productivity<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">,\u00a0<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">higher innovation<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">,\u00a0<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">reduced unemployment pressures<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">,\u00a0<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">stronger business\u00a0<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">competitiveness<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">\u00a0and\u00a0<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">better long-term economic growth<\/span><span class=\"NormalTextRun SCXW195738073 BCX8\" data-ccp-parastyle=\"First Paragraph\">.<\/span><\/span><span class=\"EOP SCXW195738073 BCX8\" data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/span>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Strengthening security and supporting transition&#8221; tab_id=&#8221;1717053134327-7fe39411-2b76&#8243;][vc_column_text css=&#8221;&#8221;]Energy costs continue to affect almost every sector of the economy, placing pressure on business profitability and contributing to higher costs for consumers. Energy security is a major focus in this year\u2019s Budget, reflecting concerns about rising fuel costs, reliance on global energy markets, and the need for a more resilient and reliable energy system.<\/p>\n<p><strong>Energy\u00a0initiatives\u00a0announced:<\/strong><\/p>\n<ul>\n<li>Investment to increase domestic electricity generation capacity<\/li>\n<li>A loan guarantee scheme to help businesses transition away from gas<\/li>\n<li>Increased funding to build strategic fuel reserves<\/li>\n<li>Temporary support to manage the impact of fuel price pressures<\/li>\n<\/ul>\n<p>Together, these measures aim to improve energy security and reliability, reduce exposure to volatile global fuel markets, and support a gradual transition to alternative energy sources.<\/p>\n<p><strong>Infrastructure and investment opportunities<\/strong><\/p>\n<p>The Government\u2019s focus on energy resilience is likely to support future investment in:<\/p>\n<ul>\n<li>electricity generation<\/li>\n<li>transmission infrastructure &amp; grid upgrades<\/li>\n<li>renewable energy &amp; battery storage<\/li>\n<li>energy efficiency projects<\/li>\n<\/ul>\n<p>This may create business opportunities for:<\/p>\n<ul>\n<li>electrical contractors<\/li>\n<li>engineers<\/li>\n<li>infrastructure businesses<\/li>\n<li>renewable energy providers<\/li>\n<li>technology companies<\/li>\n<li>equipment suppliers<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_tta_section][\/vc_tta_accordion][\/vc_column][\/vc_row][vc_row][vc_column][vc_separator border_width=&#8221;2&#8243; css=&#8221;&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=&#8221;&#8221;]<\/p>\n<h1><span data-teams=\"true\">Unpacking the Budget&#8217;s key measures<\/span><\/h1>\n<p>[\/vc_column_text][vc_empty_space][vc_tta_accordion active_section=&#8221;0&#8243; collapsible_all=&#8221;true&#8221;][vc_tta_section title=&#8221;Revenue&#8221; tab_id=&#8221;1779961313756-9b045d1f-2c79&#8243;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"none\">The government has announced a wide range of tax changes that will affect\u00a0almost everyone, from families and individuals to businesses,\u00a0charities\u00a0and those with overseas investments. The initiatives aim to provide cost-of-living relief, make the tax system simpler, and attract more investment to New Zealand.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">For businesses, several rules are being updated. The Research and Development (R&amp;D) tax incentive, a tax break for innovative companies, is being tweaked to allow businesses to get their payments during the year instead of waiting. The rules for calculating fringe benefit tax on the personal use of work vehicles are also being simplified. To ensure fairness, any outstanding<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">shareholder<\/span><span data-contrast=\"none\">\u00a0loans\u00a0<\/span><span data-contrast=\"none\">from companies facing closure\u00a0<\/span><span data-contrast=\"none\">will now be taxed if not repaid within six months.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Significant changes are being made to international tax rules to make New Zealand a more attractive place to invest and work. The rules for how New Zealanders are taxed on their foreign investments are being relaxed, with the amount you can invest overseas doubling to $100,000. Tax rules for contractors who are not New Zealand residents are also being modernised, allowing them to earn significantly more ($75,000) before being taxed. New migrants, particularly those on the Active Investor Plus visa, will also\u00a0benefit\u00a0from changes designed to reduce the\u00a0financial impact\u00a0of currency fluctuations.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The charities and not-for-profit sector will see a major overhaul. The amount of profit these organisations can earn tax-free is increasing from $1,000 to $10,000 and membership fees they receive will continue to be non-taxable. The system for donation tax credits is also becoming more flexible, giving people the option to get their refund during the year or even gift it directly to the charity they donated to. However, a new annual cap of $100,000 has been placed on donations for which you can claim a tax credit. Furthermore, charities based overseas will no longer get a New Zealand tax exemption.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">To support families with the rising cost of living, the Working for Families scheme is being simplified to make it easier for people to apply and get the correct payments.\u00a0<\/span><span data-contrast=\"none\">W<\/span><span data-contrast=\"none\">orking families will receive a temporary boost to their In-Work Tax Credit of $50 per week for one year, starting from 1 April 2026. This extra payment is temporary and may stop earlier if petrol prices fall significantly.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Finally, to ensure the tax system runs smoothly, Inland Revenue will receive more funding to increase its efforts in collecting overdue tax. There will also be better information sharing <span class=\"TextRun SCXW251108763 BCX8\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW251108763 BCX8\">between Inland Revenue and the New Zealand Customs Service, which will help simplify processes like checking residency for Working for Families payments.<\/span><\/span><\/span>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Defence and Foreign Affairs&#8221; tab_id=&#8221;1779961313776-a5c3edaf-4ffd&#8221;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"none\">Despite tight overall government spending, defence and security were prioritised as strategic investments in New Zealand\u2019s resilience and national security.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The Budget includes a major increase in defence and national security spending, centred on modernising the NZ Defence Force (NZDF) and strengthening maritime security. There is funding to\u00a0retain\u00a0existing Defence Force staff and increase numbers in key areas and investments to ensure the Anzac-class frigates and HMNZS Canterbury remain operational.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The largest initiative is a NZ$1.58 billion maritime security package focused on upgrading naval capability. This includes maintaining and modernising existing ships, planning for future fleet replacements<\/span><span data-contrast=\"none\">\u00a0and investing in new offensive and defensive systems. A key feature is the increased use of drones and autonomous technologies for surveillance and operational support, reflecting a shift toward more flexible and cost-effective military capability.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The Budget also continues the government\u2019s wider Defence Capability Plan launched in 2025. The aim is to make the NZDF more combat capable, improve interoperability with allies, increase operational readiness<\/span><span data-contrast=\"none\">\u00a0and strengthen New Zealand\u2019s ability to respond to regional security challenges and humanitarian operations in the Pacific.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">In addition to military spending, the Budget includes NZ$81.5 million over four years for\u00a0<\/span><span data-contrast=\"none\">c<\/span><span data-contrast=\"none\">ustoms and border security enhancements. Funding will support upgraded cargo screening systems, improved port and airport security, tactical training<\/span><span data-contrast=\"none\">\u00a0and expanded international intelligence cooperation.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Health&#8221; tab_id=&#8221;1779961313800-5efd9ba6-1f6b&#8221;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"none\">Total health spending rises to $34.2 billion for the 2026\/27\u00a0financial year, up from $31 billion in 2025\u00a0<\/span><span data-contrast=\"none\">&#8211;<\/span><span data-contrast=\"none\">\u00a0an increase of about 10 percent. Health is the clear winner of Budget 2026, with $5.8 billion of new spending overall, including a $5.5 billion increase to frontline services over four years. The health initiatives include the following:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Hospital\u00a0<\/span><\/b><b><span data-contrast=\"none\">i<\/span><\/b><b><span data-contrast=\"none\">nfrastructure ($682m\u00a0<\/span><\/b><b><span data-contrast=\"none\">c<\/span><\/b><b><span data-contrast=\"none\">apital)<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">There is $682 million in capital spending for health infrastructure, including a new 158-bed ward at Whang\u0101rei Hospital and land acquisition for the new Drury hospital in Auckland.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">There is also money for a temporary intensive care unit at Palmerston North Hospital and the fit-out of an inpatient unit at Tauranga Hospital to relieve immediate pressures.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">A further $180 million (including $128 million\u00a0operating\u00a0and $52 million capital) over four years will improve healthcare services in the Otago Central Lakes area, including expanding the emergency department of Lakes District Hospital.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Clinical\u00a0<\/span><\/b><b><span data-contrast=\"none\">e<\/span><\/b><b><span data-contrast=\"none\">quipment &amp;\u00a0<\/span><\/b><b><span data-contrast=\"none\">d<\/span><\/b><b><span data-contrast=\"none\">igital\u00a0<\/span><\/b><b><span data-contrast=\"none\">u<\/span><\/b><b><span data-contrast=\"none\">pgrades<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">$930 million over the next year will go towards new clinical equipment, technology upgrades, and hospital facilities. There is also $153.6 million over four years for Health NZ to expand national cybersecurity monitoring and upgrade IT safety systems across the health system. Health NZ is additionally investing $300 million of its own budget to help deliver the first three years of the He<\/span><span data-contrast=\"none\">alth Digital Investment Plan, covering replacement of ageing devices, modernisation of radiology systems<\/span><span data-contrast=\"none\">\u00a0and upgrades to core IT platforms.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Maternity &amp;\u00a0<\/span><\/b><b><span data-contrast=\"none\">c<\/span><\/b><b><span data-contrast=\"none\">hild\u00a0<\/span><\/b><b><span data-contrast=\"none\">h<\/span><\/b><b><span data-contrast=\"none\">ealth<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">$34 million has been\u00a0allocated\u00a0to fund three-day postnatal stays, and $16 million for specialist paediatric palliative care services.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Ambulance s<\/span><\/b><b><span data-contrast=\"none\">ervices <\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">$34 million has been\u00a0allocated\u00a0for road ambulance initiatives, including two new Auckland hubs and a digital patient notes system.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Primary &amp;\u00a0<\/span><\/b><b><span data-contrast=\"none\">a<\/span><\/b><b><span data-contrast=\"none\">ged\u00a0<\/span><\/b><b><span data-contrast=\"none\">c<\/span><\/b><b><span data-contrast=\"none\">are<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">There is no extra funding specifically tagged for primary care. However, Health Minister Simeon Brown said the Budget would support 53,000\u00a0additional\u00a0general practice enrolments and 272,000\u00a0additional\u00a0bed-nights in the residential aged care sector, drawn from Health NZ&#8217;s overall funding.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Mental\u00a0<\/span><\/b><b><span data-contrast=\"none\">h<\/span><\/b><b><span data-contrast=\"none\">ealth<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The Budget includes increased funding for specialist maternal mental health services to better support women and families, as part of broader health and addiction service investment.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">In summary, health is the standout area of Budget 2026, with a record spending commitment focused heavily on hospital infrastructure, digital upgrades, and specific new services in maternity, paediatric palliative care<\/span><span data-contrast=\"none\">\u00a0and cancer screening.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Fuel response&#8221; tab_id=&#8221;1779961313825-2fff183e-61be&#8221;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"none\">The fuel response measures were driven by ongoing Middle East conflict which caused significant fuel price pressures globally. The Budget includes temporary,\u00a0timely\u00a0and targeted funding for households and public services facing fuel pressures.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Emergency Fuel Reserve Fund \u2014 $450 million<\/span><\/b><span data-contrast=\"none\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">$450 million\u202fone-off operating contingency set aside for\u00a0additional\u00a0temporary fuel-related measures (if\u00a0required).<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Strategic\u00a0<\/span><\/b><b><span data-contrast=\"none\">f<\/span><\/b><b><span data-contrast=\"none\">uel\u00a0<\/span><\/b><b><span data-contrast=\"none\">r<\/span><\/b><b><span data-contrast=\"none\">eserves \u2014 $150 million<\/span><\/b><span data-contrast=\"none\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">$150 million was\u00a0allocated\u00a0for\u00a0additional\u00a0strategic fuel reserves to strengthen New Zealand&#8217;s fuel resilience.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">In-Work\u00a0<\/span><\/b><b><span data-contrast=\"none\">t<\/span><\/b><b><span data-contrast=\"none\">ax\u00a0<\/span><\/b><b><span data-contrast=\"none\">c<\/span><\/b><b><span data-contrast=\"none\">redit for\u00a0<\/span><\/b><b><span data-contrast=\"none\">f<\/span><\/b><b><span data-contrast=\"none\">amilies \u2014 $373 million<\/span><\/b><span data-contrast=\"none\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">From 7 April, the Government granted a $50 in-work tax credit to 143,000 working families with children to help with rising fuel costs. Another 14,000 families became eligible for a lower tax credit. The overall tax relief package was estimated to cost NZ$373 million for a year, funded from the Government&#8217;s operational allowance.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Mileage\u00a0<\/span><\/b><b><span data-contrast=\"none\">r<\/span><\/b><b><span data-contrast=\"none\">ate\u00a0<\/span><\/b><b><span data-contrast=\"none\">i<\/span><\/b><b><span data-contrast=\"none\">ncreases<\/span><\/b><span data-contrast=\"none\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">$24.2 million funding for temporary increase in mileage rates for home and community support workers and patients travelling for specialist treatment<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Public\u00a0<\/span><\/b><b><span data-contrast=\"none\">t<\/span><\/b><b><span data-contrast=\"none\">ransport\u00a0<\/span><\/b><b><span data-contrast=\"none\">s<\/span><\/b><b><span data-contrast=\"none\">upport<\/span><\/b><span data-contrast=\"none\">\u00a0<\/span><b><span data-contrast=\"none\">and\u00a0<\/span><\/b><b><span data-contrast=\"none\">f<\/span><\/b><b><span data-contrast=\"none\">rontline\u00a0<\/span><\/b><b><span data-contrast=\"none\">a<\/span><\/b><b><span data-contrast=\"none\">gency\u00a0<\/span><\/b><b><span data-contrast=\"none\">f<\/span><\/b><b><span data-contrast=\"none\">uel\u00a0<\/span><\/b><b><span data-contrast=\"none\">f<\/span><\/b><b><span data-contrast=\"none\">unding<\/span><\/b><span data-contrast=\"none\">\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Funding was provided to support public transport authorities to help manage fuel cost pressures and\u00a0maintain\u00a0services.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span class=\"TextRun SCXW118606338 BCX8\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW118606338 BCX8\">Government agencies that rely heavily on fuel to deliver frontline services received\u00a0<\/span><span class=\"NormalTextRun SCXW118606338 BCX8\">additional<\/span><span class=\"NormalTextRun SCXW118606338 BCX8\">\u00a0funding to\u00a0<\/span><span class=\"NormalTextRun SCXW118606338 BCX8\">maintain<\/span><span class=\"NormalTextRun SCXW118606338 BCX8\">\u00a0their operations in the face of sustained fuel price increases. This includes\u00a0<\/span><span class=\"NormalTextRun SCXW118606338 BCX8\">additional<\/span><span class=\"NormalTextRun SCXW118606338 BCX8\">\u00a0funding for Fire and Emergency, Corrections, Police, Customs and Education to\u00a0<\/span><span class=\"NormalTextRun SCXW118606338 BCX8\">maintain<\/span><span class=\"NormalTextRun SCXW118606338 BCX8\">\u00a0frontline operational activities in the face of sustained fuel price increases<\/span><\/span><span class=\"EOP SCXW118606338 BCX8\" data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Law and Order&#8221; tab_id=&#8221;1779961313849-0036b071-9636&#8243;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"none\">Budget 2026 continues the Government\u2019s focus on strengthening law and order and\u00a0maintaining\u00a0community safety. There is a strong emphasis on supporting frontline agencies, including Corrections, Police, and the justice system, to manage demand and improve operational capability. Investment is also directed toward justice infrastructure and enforcement systems, alongside measures to combat crime and enhance system effectiveness. The overall\u00a0objective\u00a0is to ensure agencies\u00a0remain\u00a0responsive and capable in\u00a0maintaining\u00a0public confidence and safety.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Key Investments<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"none\">$503 million for frontline Corrections services, including resources to manage increasing prison volumes. This <\/span><span data-contrast=\"none\">ensures the corrections system can manage rising demand while maintaining security and operational capacity<\/span><\/li>\n<li><span data-contrast=\"none\">$50 million additional funding for frontline policing<\/span><\/li>\n<li><span data-contrast=\"none\">$215 million capital investment, including new courthouses in Rotorua and new police stations in Whanganui and Greymouth<\/span><\/li>\n<li><span data-contrast=\"none\">Funding to reform the firearms safety system by establishing a new independent firearms regulator<\/span><\/li>\n<li><span data-contrast=\"none\">$21 million for Customs to combat drug smuggling and transnational crime<\/span><\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Infrastructure&#8221; tab_id=&#8221;1779961313877-cc3cfe86-abf0&#8243;][vc_column_text css=&#8221;&#8221;]<span class=\"TextRun SCXW150791425 BCX8\" lang=\"EN-AU\" xml:lang=\"EN-AU\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW150791425 BCX8\">Infrastructure investment is a key focus, supporting economic growth, improving connectivity and enhancing resilience. The Government is prioritising major transport projects, including roads and rail, alongside continued investment in public assets such as hospitals, schools and justice facilities. There is a strong emphasis on strengthening infrastructure to better withstand increasing weather-related events and disruptions, as well as progressing planning reforms to enable development and support long-term productivity.<\/span><\/span><span class=\"EOP SCXW150791425 BCX8\" data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Key Investments<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><span data-contrast=\"none\">$1.8 billion capital investment to deliver the Cambridge to Piarere Expressway as a Road of National Significance. Aimed to improve regional connectivity, reduce congestion and support efficient freight movement between key economic centres.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">$705 million capital and $477 million operating to renew and upgrade New Zealand\u2019s rail network. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">$400 million capital for state highway resilience upgrades. Targeted at strengthening vulnerable transport routes to reduce disruptions from weather-related events.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">$400 million to introduce financial incentives for councils to support housing growth. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">$294 million to progress reforms to the resource management system, including replacing the existing framework. This is intended to streamline planning processes, reduce delays in obtaining consents and improve consistency across regions.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"none\">Ongoing investment in hospitals, schools, courthouses, police stations and defence assets all contribute to the broader infrastructure pipeline and support population growth, service delivery and national resilience over the long term.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Benefits<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Reforms to the resource management system, is expected to improve the efficiency and consistency of resource consent processes. This may reduce delays and uncertainty in obtaining approvals, allowing development projects to\u00a0proceed\u00a0with greater certainty. Improved timing can also support more effective planning while reducing costs associated with project delays.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Public service transformation&#8221; tab_id=&#8221;1779961313937-f19d5bfa-3564&#8243;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"none\">The government is launching a major overhaul of the public service<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">to improve\u00a0<\/span><span data-contrast=\"none\">efficiency<\/span><span data-contrast=\"none\">, save taxpayer money<\/span><span data-contrast=\"none\">\u00a0and improve the services that New Zealanders rely on, like getting a passport or applying for a benefit. This is part of a plan to create a more modern and\u00a0digitally-focused\u00a0public service.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">A key part of this plan is to reduce the overall size of the government workforce. The government has set a target to lower the number of core public service jobs to 55,000 by 2029. To get there, <\/span><span data-contrast=\"none\">most government departments are being asked to find significant savings in their budgets. These savings will come from cutting back on administrative or\u00a0<\/span><span data-contrast=\"none\">\u2018<\/span><span data-contrast=\"none\">back-office<\/span><span data-contrast=\"none\">\u2019<\/span><span data-contrast=\"none\">\u00a0roles, spending less on external consultants and contractors<\/span><span data-contrast=\"none\">\u00a0and stopping or shrinking government programmes that are not considered a top priority.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">These budget cuts are being rolled out in stages. Most departments have already found 2% in savings for the coming year. They will face a deeper cut of 5% in 2027, and another 5% the year after that. For many agencies, this will add up to a total budget reduction of around 12% over the next few years.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">However, it is important to know that these cuts will not apply to everyone. Essential frontline services are being protected from this savings exercise. This means that budgets for critical areas like health, education, the police, the defence force, and the child protection agency (Oranga Tamariki) will not be affected by these specific reductions. The government&#8217;s stated aim is to ensure that while back-office costs are being trimmed, funding for the services that people depend on most is safeguarded.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span>[\/vc_column_text][\/vc_tta_section][vc_tta_section title=&#8221;Other Budget initiatives&#8221; tab_id=&#8221;1779961313970-50f6c0c7-9df4&#8243;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"none\">The Budget includes a range of targeted initiatives aimed at improving public services and addressing specific areas of need. This includes environmental investment to strengthen control of wilding pines, as well as enhancements to identification systems to improve access to services for\u00a0SuperGold\u00a0<\/span><span data-contrast=\"none\">cardholders<\/span><span data-contrast=\"none\">. Funding is also directed toward strengthening emergency management capability, enabling faster and\u00a0better<\/span>\u2011<span data-contrast=\"none\">coordinated\u00a0responses during disasters.\u00a0Additional\u00a0funding for Oranga Tamariki will support improved responses to reports of suspected harm and increase\u00a0assistance\u00a0for children with high and complex needs. These initiatives reflect a focus on practical, targeted support across key service areas while improving the capability and responsiveness of government systems.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:300}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Key Investments\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/p>\n<ul>\n<li><span data-contrast=\"none\">$109 million package to improve control of wilding pines. This will assist in managing environmental impacts and <\/span><span data-contrast=\"none\">reducing<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">long-term ecological and economic damage.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">$184 million additional funding for Oranga Tamariki to better protect and support children.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">$36 million to introduce the SuperGold Card as an accepted form of identification.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:2,&quot;335559739&quot;:0,&quot;335559740&quot;:260}\">\u00a0<\/span><\/li>\n<li><span data-contrast=\"none\">Investment in new technology to improve New Zealand\u2019s emergency management system. <\/span><\/li>\n<li><span data-contrast=\"none\">Supporting faster and better coordinated responses during disasters, improving overall system capability and resilience.<\/span><\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_tta_section][\/vc_tta_accordion][\/vc_column][\/vc_row][vc_row][vc_column][vc_separator border_width=&#8221;2&#8243; css=&#8221;&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][vc_custom_heading text=&#8221;What should businesses take away from this budget?&#8221; font_container=&#8221;tag:h1|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221; css=&#8221;&#8221;][vc_column_text css=&#8221;&#8221;]<span data-contrast=\"auto\">Budget 2026 is best described as a cautious and fiscally disciplined Budget focused on long-term economic management rather than immediate stimulus.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The Government has prioritised restoring fiscal discipline and relieving economic pressure, all while investing in infrastructure, improving workforce capability and strengthening energy resilience. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For businesses, the Budget does not\u00a0contain\u00a0significant surprise tax measures or large-scale direct support packages. Instead, it reflects a broader economic strategy aimed at improving stability and productivity over time.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Business owners\u00a0should continue managing cash flow carefully while focusing on operational efficiency, reviewing financing and debt\u00a0exposure\u00a0and investing in workforce capability. Those with exposure to infrastructure and procurement should\u00a0monitor\u00a0upcoming opportunities, while long-term productivity improvements should remain a priority across the board. Although economic conditions\u00a0remain\u00a0challenging in some sectors, the Budget suggests the economy is gradually moving toward a more stable environment.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The next 12-24 months\u00a0are likely to remain economically challenging for many businesses. However, periods of economic adjustment also often create opportunities for businesses that are\u00a0adaptable,\u00a0financially disciplined,\u00a0innovative\u00a0and\u00a0productivity focused.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This budget sends a clear message that the Government\u2019s priority is long-term economic resilience and stability rather than short-term spending growth.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:180,&quot;335559739&quot;:180,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Business\u00a0owners\u00a0that plan carefully and focus on long-term sustainability may be well placed to benefit as confidence and economic conditions improve over time.<\/span><span 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