Wellbeing Budget 2023

Support for today
Building for tomorrow

Te Tahua Toiora 2023 – He Tirohanga Matua The Wellbeing Budget 2023 – Highlights

Extending 20 hours childcare to two-year-olds, along with increases to childcare assistance funding Scrapping the $5 prescription co‑payment, making medicine cheaper for over 3 million Kiwis and taking pressure off our health system Free public transport for children under 13, and permanent half price for under 25s, increasing the number eligible for reduced prices for public transport to 1.6 million people Lower household energy bills through an expanded Warmer Kiwi Homes Programme, providing 100,000 heating and insulation installations, 7,500 hot-water heat pumps and 5 million LED light bulbs
Supporting communities and businesses to recover and rebuild after the North Island weather events A new National Resilience Plan to address our infrastructure deficit with an initial $6 billion investment, starting with Cyclone rebuild 20% rebate for the game-development sector and investing in Industry Transformation Plans for Horticulture, Digital and Tourism to support economic resilience New Science and Innovation Hubs, backed by $400 million capital investment, plus more than 260 additional researchers and PhD students
6,600 new student places, plus four new schools as part of a $3.6 billion operating and $1.3 billion capital investment in education Delivering 3,000 new public housing places to improve wellbeing outcomes through access to stable, secure housing Boosting frontline staff in Health, increasing pay and investing to reduce waiting lists, with more than $1 billion investment Increasing supply of Māori housing, boosting Whānau Ora, education and Pacific Wellbeing and languages strategy
$4.8 billion per year new operating package – down from last year despite Cyclone recovery costs, $10.7 billion new capital package $4 billion in savings through reprioritisation and efficiencies to fund higher priorities like cost of living and core public services Aligning the Trustee tax rate with 39% top tax rate to create fairness and remove a potential loophole Return to surplus in 2025/26 – same length of time as after the Global Financial Crisis
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