Most Budget 2023 changes affecting household budgets centre on younger families. The 20-hours free early childhood education (ECE) currently available to 3-5-year-olds is extended to include 2-year-olds, with more money for teachers and childcare centres as well. This may free up some parents for greater workforce participation and ease household budgets. But as interest rates remain high and measures lowering petrol prices at the pump by 25c/litre end on 30 June 2023, there is no shortage of other pressures.
From 1 July 2023, public transport for children under 13 will be free, half-price for the under-25s. The $5 prescription charge is removed for all New Zealanders.
From 1 July 2024, the Government will make a 3% KiwiSaver contribution to recipients of paid parental leave who contribute at least 3%.
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.
