‘Support for today building for tomorrow’

Like the rest of the world, New Zealand has reeled from the aftermath of Covid, rising inflation and interest rates, and the cost-of-living crisis. This year we also have a massive storm damage repair bill.

The 2023 Wellbeing Budget was distinctly lacking in lolly scramble. Treasury believes we have headed off recession for this year. Inflation is predicted to fall to 4.5% by late 2023. The budget forecasts a $7.6b deficit for this year, rowing back to a $0.6b surplus next year. Growth of 3.2% is predicted to June 2023, slowing to 1.0% by June 2024.

In this special budget alert:

Disclaimer: This blog has been carefully prepared, but it has been written in general terms only. The blog should not be relied upon to provide specific information without also obtaining appropriate professional advice after detailed examination of your particular situation.