{"id":4624,"date":"2023-05-18T14:27:06","date_gmt":"2023-05-18T02:27:06","guid":{"rendered":"https:\/\/thebuzz.apnanetwork.co.nz\/?p=4624"},"modified":"2023-05-18T14:27:06","modified_gmt":"2023-05-18T02:27:06","slug":"budget-2023-at-a-glance-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/thebuzz.apnanetwork.co.nz\/?p=4624","title":{"rendered":"Budget 2023 at a glance: What you need to know"},"content":{"rendered":"<p>This year&#8217;s &#8220;no-frills&#8221; Budget is spending nearly $11.5 billion more of taxpayers&#8217; money over four years, plus $1.9b from the climate response fund, with a focus on cost-of-living and cyclone recovery.<\/p>\n<p>Here&#8217;s a list of the major spending and projects:<\/p>\n<h3>Cyclone recovery<\/h3>\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li>$1b for the previously announced Cyclone Recovery Package<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>&#8216;Cost of living&#8217; package<\/h3>\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li>$1.2b for extending 20 hours childcare cover to include two-year-olds (it currently covers ages 3-5), starting in March next year, equating to $133.20 a week.<\/li>\n<li>$618.6m to scrap $5 co-payments for prescriptions<\/li>\n<li>$402.6m for expanding Warmer Kiwi Homes, subsidising 100,000 heating and insulation installs, 7500 hot water heat pumps and 5 million LED light bulbs<\/li>\n<li>339.3m for pay parity for ECE and care service teachers and $260m for cost pressures for ECE services including a one-off $3m for Playcentre Aotearoa<\/li>\n<li>$327m for free public transport for under-13s, and half-price for under-25s. However, it&#8217;s worth noting the current half-price fares for the wider public and fuel subsidy is expected to end at the end of June<\/li>\n<li>$323.4m to continue free lunches in schools, estimated to save families with two school-age kids $60 a week<\/li>\n<li>$35.2m to improve access and uptake of childcare assistance, by introducing online applications<\/li>\n<li>$19.6m to give KiwiSaver payments to those receiving paid parental leave<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>Infrastructure and housing<\/h3>\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li>$71b for new and existing infrastructure projects<\/li>\n<li>$6b for the National Resilience Plan, including to address the newly released Infrastructure Action Plan<\/li>\n<li>$100m for Rau Paenga, a new infrastructure delivery agency repurposed from Christchurch Rebuild agency \u014ct\u0101karo<\/li>\n<li>$3.6b to address cost pressures in the current public housing build programme and a further $3.1b for 3000 more public housing places by the end of June 2025<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>Climate<\/h3>\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li>Spending $1.9b from the $3.6b Climate Emergency Response Fund, which can only be spent on emissions reductions, and &#8211; as of late last year &#8211; adaptation measures<\/li>\n<li>$402.6 million to expand the duration and scope of the Warmer Kiwi Homes programme<\/li>\n<li>$370 million for rail infrastrure resilence.<\/li>\n<li>$327.4 million on public transport including making it free for children and half price for under 25s<\/li>\n<li>$300 million in new money for the green bank Green Investment Finance (already announced)<\/li>\n<li>$167.4 million in building resilience to future climate events<\/li>\n<li>$120 million to expand EV charging infrastructure<\/li>\n<li>$100m fund to help councils invest in future flood resilience<\/li>\n<li>$50 million for distributed renewable energy projects in isolated communities<\/li>\n<li>$39.2 million in improving the mapping of New Zealand&#8217;s coastline and identifying coastal areas at significant risk of climate-related hazards and natural disasters.<\/li>\n<li>$38 million on design of Emissions Trading Scheme and centralised exchange for New Zealand Unit trading<\/li>\n<li>$32.5 million to accelerate the adoption of green hydrogen<\/li>\n<li>$30 million over three years has been set aside for clean heavy vehicle grants<\/li>\n<li>$24.7 million to improve data on impacts of climate change and adaptation and mitigation<\/li>\n<li>$22.9 million to increase Westport&#8217;s resilience to future flooding. (already announced)<\/li>\n<li>$19.9 million to support resilience to climate change for iwi, hap\u016b and the wider hapori wh\u0101nui by expanding both data quality and access.<\/li>\n<li>$10.7 million investment to reduce diesel generation and establish a renewable energy system on the Chatham Islands,<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>Health and disability<\/h3>\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li>$2.6b over two years for cost pressures in the health system and reforms<\/li>\n<li>More than $1b to increase pay rates and boost staff numbers<\/li>\n<li>$864m for the delivery of disability services<\/li>\n<li>$20m to lift Covid-19 immunisation and screening coverage for M\u0101ori and Pacific people<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>Education<\/h3>\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li>$455.4m already announced for new schools and classrooms under the National Education Growth Plan<\/li>\n<li>As well as the $260m for ECE operating costs detailed above, $233.9m is allocated for school running costs, and $521 million total operating for tertiary tuition and training subsidies. There are also smaller increases to address wages at NZQA, cost pressures at Pacific schools, ERO, the Independent Children&#8217;s Monitor<\/li>\n<li>$198.7m for 33 school projects in the Christchurch Schools&#8217; Rebuild programme<\/li>\n<li>$147m over two years for modifying school buildings, including automatic doors, lifts and bathroom refits<\/li>\n<li>$134.4m to expand M\u0101ori-medium infrastructure, to support the government&#8217;s target of 30 percent of M\u0101ori students learning in M\u0101ori-medium education by 2040<\/li>\n<li>$63.1m for property improvements to 175 more schools &#8211; focusing on small or isolated schools &#8211; by extending the Ng\u0101 Iti Kahurangi school infrastructure programme<\/li>\n<li>$41.1m to address &#8220;historical underfunding&#8221; of alternative education<\/li>\n<li>$39.1m to support upgrades to cybersecurity and IT at schools and kura<\/li>\n<li>$23.6m to boost teacher training enrolments and incentivise overseas teachers to move to New Zealand, targeting an increase of 1700 new teachers<\/li>\n<li>$9.9m over five years for expanding the Critical Local Histories programme, which has local iwi and hap\u016b work to add local culturally relevant information to schools&#8217; history curriculum, after high levels of interest from schools<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>Science and technology<\/h3>\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li>Includes initiatives to help meet a government target of spending 2 percent of GDP on research and development<\/li>\n<li>$451m to set up three research and technology hubs in Wellington<\/li>\n<li>$160m to give video game developers a 20 percent rebate, aiming to help keep this growing industry in New Zealand with similar rates seen overseas<\/li>\n<li>$75m funding for Industry Transformation Plans, including for Horticulture, Digital and Tourism<\/li>\n<li>$38m to have New Zealand join the EU&#8217;s Horizon Europe initiative, allowing collaboration with European researchers<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>Economy and business<\/h3>\n<ul>\n<li style=\"list-style-type: none\">\n<ul>\n<li>Treasury is no longer forecasting a recession this year, but a return to surplus has been pushed out to 2025\/26 in line with a &#8220;steady decline&#8221; in government expenditure<\/li>\n<li>A new Trustee tax will increase the tax rate paid on Trusts to 39 percent, expected to net the government 1.12b over three years, including $765m in 2025\/26<\/li>\n<li>$238m for re-instating the Training Incentive Allowance to incentivise sole parents, disabled people and their carers to study<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>M\u0101ori and Pacific<\/h3>\n<ul>\n<li>$410m for M\u0101ori medium school infrastructure, expanding support for Wh\u0101nau Ora services, and support for w\u0101hine hap\u016b (pregnant women) in the first 1000 days of life for their p\u0113pi<\/li>\n<li>$200m for increasing the supply of M\u0101ori housing<\/li>\n<li>$23m to extend the Te Ringa H\u0101pai Whenua Fund<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>This year&#8217;s &#8220;no-frills&#8221; Budget is spending nearly $11.5 billion more of taxpayers&#8217; money over four years, plus $1.9b from the climate response fund, with a focus on cost-of-living and cyclone recovery. Here&#8217;s a list of the major spending and projects: Cyclone recovery $1b for the previously announced Cyclone Recovery Package &#8216;Cost of living&#8217; package $1.2b [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[192,174],"tags":[],"class_list":["post-4624","post","type-post","status-publish","format-standard","hentry","category-breaking-news","category-nz-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/4624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4624"}],"version-history":[{"count":1,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/4624\/revisions"}],"predecessor-version":[{"id":4625,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=\/wp\/v2\/posts\/4624\/revisions\/4625"}],"wp:attachment":[{"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thebuzz.apnanetwork.co.nz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}