The Ardern Government will invest $42 billion in net capital spending over the next five years to support infrastructure and critical public services.
As a prelude to the Budget, Finance Minister Grant Robertson said yesterday that this spend was $10 B more than forecast over five years by the previous government before the election.
He told a Wellington Chamber of Commerce audience: “We have to build the strong foundations that give every New Zealander the chance to succeed. Healthier, more secure, better-educated people have the best chance of getting ahead in life.
“The capital investments to be announced on May 17 will allow us to give a long overdue boost to health to ensure that our hospitals are fit for purpose and can cope with a growing and ageing population.
“Education will also get a significant investment to support our schools to deal with ageing buildings and increasing enrolments.”
Robertson said the Government was upgrading the transport network and will make the largest investment “of our lifetimes into New Zealand’s regions via the $1 B per year Provincial Growth Fund.”
Robertson said a Budget was always a balancing act and we have been responsible by making sure we have created the room to make the critical investments we need to, while maintaining NZ’s resilience to any future shocks.
“Budget 2018 begins an economic and social transformation that must happen if we are to improve New Zealanders’ quality of life and living standards.”