Finance Minister Steven Joyce has announced Budget 2017 on May 25 will include $11 billion worth of new capital infrastructure spending over the next four years, which is an effective $2 billion upgrade in forecast spending since the Government's last forecasts in December.
The fallout from the Government's stumbling U-turn on Housing NZ Corp paying dividends continued yesterday.
In another sign the political pressure from Auckland's housing crisis/challenge is hitting the Government, Steven Joyce executed a hasty 360 degrees back-flip yesterday on Bill English's long-held opposition to sacrificing Housing NZ Corp dividends.
Yesterday we found out the overall economy grew solidly in the March quarter, but that per capita growth and inflation were almost flat. More on that below.
For the convenience of subscribers, here's my weekly column in which I say this week's Budget showed the Government was still jumping at debt shadows when it needed to be breaking Auckland's housing infrastructure logjam by borrowing at record-low interest rates.
Good morning all on the day after Budget 2016.
Bill English has unveiled his eighth Budget with few major surprises and barely enough room for tax cuts from next year.
Bill English's 8th Budget will be revealed at 2pm and we'll put out a Hive News Alert shortly after then as I'm in the 'lock-up' in the Beehive Banquet Hall.
The Government came under sustained and intense attack over the Auckland housing issue in and around Parliament yesterday on the eve of a Budget that is set to feature a significant announcement on social housing.
The Budget for 2016 is due to be published at 2pm on Thursday and is squarely in everyone's sights this week. Bill English will do the traditional Finance Minister's big tease photo opportunity later this morning when he shows off the front page of the Budget as it rolls off the printing presses in Wellington.