1
00:00:05,000 --> 00:00:05,400
Speaker 1: Fielder.

2
00:00:05,559 --> 00:00:09,120
Speaker 2: I'm Chelsea Daniels and this is a breaking news episode

3
00:00:09,240 --> 00:00:13,159
Speaker 2: of the front Page, a daily podcast presented by the

4
00:00:13,200 --> 00:00:20,520
Speaker 2: New Zealand Herald officially dubbed the Growth Budget unofficially the

5
00:00:20,680 --> 00:00:24,720
Speaker 2: NOBS Budget. Finance Minister Nikola Willis has unveiled when New

6
00:00:24,800 --> 00:00:28,320
Speaker 2: Zealand's dollars are going to be spent from the outset.

7
00:00:28,440 --> 00:00:32,640
Speaker 2: She promised no frills or access, saying for months is

8
00:00:32,880 --> 00:00:35,559
Speaker 2: very little left in the kitty.

9
00:00:35,840 --> 00:00:40,040
Speaker 3: The economic outlook presented alongside this budget is a bright

10
00:00:40,080 --> 00:00:46,240
Speaker 3: one after a tough few years. Growth, jobs and wages

11
00:00:46,400 --> 00:00:51,839
Speaker 3: are set to rise. The government is not promising that

12
00:00:51,880 --> 00:00:56,880
Speaker 3: today's budget will solve all New zealanders problems, but we

13
00:00:57,000 --> 00:01:00,920
Speaker 3: do promise that the decisions we are taking now will

14
00:01:00,920 --> 00:01:03,600
Speaker 3: sit our country up for a better future.

15
00:01:04,480 --> 00:01:07,760
Speaker 2: So what's been announced today well a big change in

16
00:01:07,880 --> 00:01:10,800
Speaker 2: key we Saver, with the Government announcing it'll be harving

17
00:01:10,840 --> 00:01:14,600
Speaker 2: its yearly maximum contribution rates for key we Saver to

18
00:01:14,640 --> 00:01:17,720
Speaker 2: two hundred and sixty dollars, down from five hundred and

19
00:01:17,760 --> 00:01:21,280
Speaker 2: twenty one. It also won't be extending it to those

20
00:01:21,360 --> 00:01:24,680
Speaker 2: earning more than one hundred and eighty thousand dollars a year.

21
00:01:24,840 --> 00:01:29,120
Speaker 2: Default employer and employee contributions will rise from three to

22
00:01:29,280 --> 00:01:32,600
Speaker 2: four percent, phased in over the next three years, although

23
00:01:32,680 --> 00:01:36,920
Speaker 2: members can temporarily opt out, and sixteen and seventeen year

24
00:01:36,920 --> 00:01:40,840
Speaker 2: olds will become eligible to receive a government contribution. There's

25
00:01:40,880 --> 00:01:45,120
Speaker 2: also a new six point six billion dollar tax incentive

26
00:01:45,200 --> 00:01:49,720
Speaker 2: for businesses, allowing twenty percent of a new assets value

27
00:01:49,760 --> 00:01:53,640
Speaker 2: to be deducted from annual taxable income. This will apply

28
00:01:53,760 --> 00:01:57,920
Speaker 2: to assets like machinery, tools and equipment, covering their value

29
00:01:57,920 --> 00:02:01,640
Speaker 2: on top of normal depreciation, and is believed to increase

30
00:02:01,680 --> 00:02:05,360
Speaker 2: our GDP by one percent. In total, there will be

31
00:02:05,480 --> 00:02:09,400
Speaker 2: twenty one point four billion dollars in savings over the

32
00:02:09,440 --> 00:02:10,320
Speaker 2: next four years.

33
00:02:10,400 --> 00:02:11,440
Speaker 1: The majority of.

34
00:02:11,360 --> 00:02:14,600
Speaker 2: That is made up of the twelve point eight billion

35
00:02:14,680 --> 00:02:18,240
Speaker 2: dollars saved by the controversial changes made to the pay

36
00:02:18,360 --> 00:02:22,120
Speaker 2: Equity scheme. There are two hundred and twenty eight spending

37
00:02:22,160 --> 00:02:24,480
Speaker 2: initiatives as part of this budget, but here are some

38
00:02:24,520 --> 00:02:29,200
Speaker 2: of the highlights. Looking at health, seven billion dollars will

39
00:02:29,200 --> 00:02:32,000
Speaker 2: be spent on health over the next four years. People

40
00:02:32,000 --> 00:02:34,160
Speaker 2: will now be able to go a year without having

41
00:02:34,240 --> 00:02:36,480
Speaker 2: to go to the doctor to get a repeat prescription,

42
00:02:36,960 --> 00:02:39,960
Speaker 2: up from the current maximum of three months. That will

43
00:02:40,040 --> 00:02:43,360
Speaker 2: cost ninety one million dollars over the next four years

44
00:02:43,360 --> 00:02:46,560
Speaker 2: and comes into effect in the first quarter of twenty

45
00:02:46,639 --> 00:02:51,040
Speaker 2: twenty six. One billion will be invested in hospital facilities,

46
00:02:51,080 --> 00:02:55,080
Speaker 2: including a new emergency department at Wellington Regional Hospital and

47
00:02:55,120 --> 00:02:59,840
Speaker 2: a one hundred and twenty eight bed inpatient building in Nelson.

48
00:03:03,280 --> 00:03:03,720
Speaker 1: Onto.

49
00:03:03,760 --> 00:03:08,480
Speaker 2: Families Best Start will be income tested, diminishing four families

50
00:03:08,520 --> 00:03:11,640
Speaker 2: with an income of seventy nine thousand dollars a year

51
00:03:11,760 --> 00:03:14,760
Speaker 2: and cutting off entirely when a family earns more than

52
00:03:14,840 --> 00:03:18,360
Speaker 2: ninety seven thousand dollars. The changes will affect families of

53
00:03:18,520 --> 00:03:22,400
Speaker 2: children before April first next year. Those savings will see

54
00:03:22,440 --> 00:03:26,280
Speaker 2: one hundred and forty two thousand families get an extra

55
00:03:26,520 --> 00:03:30,800
Speaker 2: fourteen dollars a fortnight on average. Under Working for Families changes,

56
00:03:31,200 --> 00:03:35,360
Speaker 2: the government is also changing the abatement threshold for eligible

57
00:03:35,400 --> 00:03:39,440
Speaker 2: families from forty two thousand, seven hundred dollars to forty

58
00:03:39,480 --> 00:03:42,560
Speaker 2: four thousand, nine hundred dollars and the rate from twenty

59
00:03:42,600 --> 00:03:45,480
Speaker 2: seven percent to twenty seven point five percent.

60
00:03:48,120 --> 00:03:49,600
Speaker 1: Let's look at education.

61
00:03:50,240 --> 00:03:53,440
Speaker 2: A boost to learning support makes up a large portion

62
00:03:53,640 --> 00:03:57,760
Speaker 2: of new education spending two point five billion dollars worth

63
00:03:58,040 --> 00:04:01,440
Speaker 2: over the next four years. All primary schools will be

64
00:04:01,520 --> 00:04:05,640
Speaker 2: funded for a learning support coordinator from twenty twenty eight.

65
00:04:05,880 --> 00:04:09,280
Speaker 2: A new multi studies subject area is being introduced for

66
00:04:09,400 --> 00:04:13,760
Speaker 2: years eleven to thirteen, and the government's also revealed it'll

67
00:04:13,800 --> 00:04:18,240
Speaker 2: be looking domestically and overseas in its marketing campaign to

68
00:04:18,320 --> 00:04:23,000
Speaker 2: bring in more teachers. Meanwhile, funding for private school subsidies

69
00:04:23,040 --> 00:04:26,560
Speaker 2: will increase by eleven percent after staying the same for

70
00:04:26,600 --> 00:04:29,839
Speaker 2: the last fifteen years.

71
00:04:31,000 --> 00:04:32,520
Speaker 1: And now let's look at benefits.

72
00:04:32,920 --> 00:04:37,799
Speaker 2: A big change to unemployment benefits, including job seeker cuts

73
00:04:38,000 --> 00:04:42,360
Speaker 2: for teens. Many unemployed teenagers who do not study will

74
00:04:42,400 --> 00:04:46,120
Speaker 2: not be eligible for the benefit from mid twenty twenty seven.

75
00:04:46,320 --> 00:04:49,120
Speaker 2: The government says this group should be supported by their

76
00:04:49,160 --> 00:04:50,880
Speaker 2: parents or guardians.

77
00:04:50,720 --> 00:04:52,080
Speaker 1: Not the taxpayer.

78
00:04:52,560 --> 00:04:55,520
Speaker 2: Eighteen and nineteen year olds who are unable to rely

79
00:04:55,640 --> 00:05:00,440
Speaker 2: on parental support will be eligible for the money. So

80
00:05:00,560 --> 00:05:03,599
Speaker 2: much of what was included in today's budget has been

81
00:05:03,640 --> 00:05:06,960
Speaker 2: announced over the last month by the government. Here are

82
00:05:06,960 --> 00:05:11,960
Speaker 2: just some of those headline figures. More than two billion

83
00:05:12,040 --> 00:05:15,839
Speaker 2: dollars was announced to replace the Defense Force's aging fleet

84
00:05:15,920 --> 00:05:19,559
Speaker 2: of maritime helicopters, and a nine hundred and fifty seven

85
00:05:19,640 --> 00:05:23,120
Speaker 2: million dollar boost over four years in defense, one hundred

86
00:05:23,120 --> 00:05:27,520
Speaker 2: and forty million dollars to tackle student attendance, Nearly one

87
00:05:27,600 --> 00:05:30,599
Speaker 2: hundred million dollars over the next four years to boost

88
00:05:30,720 --> 00:05:34,080
Speaker 2: maths achievement in primary and intermediate schools.

89
00:05:34,320 --> 00:05:35,960
Speaker 1: One hundred and sixty three.

90
00:05:35,800 --> 00:05:40,240
Speaker 2: Million dollars over four years to expand and maintain urgent

91
00:05:40,320 --> 00:05:45,160
Speaker 2: and after hours healthcare services nationwide. Five hundred and seventy

92
00:05:45,240 --> 00:05:48,240
Speaker 2: seven million dollars over four years to support TV and

93
00:05:48,320 --> 00:05:52,280
Speaker 2: film production. Six hundred million dollars in funding for improving

94
00:05:52,520 --> 00:05:57,760
Speaker 2: rail reliability, upgrades and maintenance. Seven hundred and seventy four

95
00:05:57,800 --> 00:06:01,839
Speaker 2: million dollars is allocated for the cases and improved redress

96
00:06:01,920 --> 00:06:05,880
Speaker 2: for survivors of abusing care. Two hundred and seventy five

97
00:06:05,960 --> 00:06:10,160
Speaker 2: million dollars over four years will overhaul social services, including

98
00:06:10,200 --> 00:06:14,120
Speaker 2: one hundred and ninety million dollars for a Social Investment Fund.

99
00:06:14,279 --> 00:06:17,960
Speaker 2: That fund will invest in at least twenty initiatives, including

100
00:06:18,000 --> 00:06:22,039
Speaker 2: parental support and preventing vulnerable people from entering state care.

101
00:06:22,320 --> 00:06:25,360
Speaker 2: An extra one point five million dollars has been committed

102
00:06:25,440 --> 00:06:29,240
Speaker 2: annually to multi wardens, bringing government funding to two point

103
00:06:29,320 --> 00:06:31,960
Speaker 2: seven million and thirty five million.

104
00:06:31,640 --> 00:06:32,880
Speaker 1: Dollars over four years.

105
00:06:32,920 --> 00:06:37,040
Speaker 2: Will go towards border protection to support sixty additional roles

106
00:06:37,080 --> 00:06:44,760
Speaker 2: to tackle drug smuggling. That's it for this bonus budget

107
00:06:44,839 --> 00:06:50,120
Speaker 2: episode of the Front Page. You can read more about

108
00:06:50,160 --> 00:06:54,680
Speaker 2: today's stories and extensive news coverage at enzherld dot co

109
00:06:55,000 --> 00:06:58,839
Speaker 2: dot nz. The Front Page is produced by Ethan Sills

110
00:06:58,960 --> 00:07:00,679
Speaker 2: and Richard Martin, who.

111
00:07:00,520 --> 00:07:04,160
Speaker 1: Is also a sound engineer. I'm Chelsea Daniels.

112
00:07:04,760 --> 00:07:07,840
Speaker 2: Subscribe to the Front Page on iHeartRadio or wherever you

113
00:07:07,960 --> 00:07:11,360
Speaker 2: get your podcasts, and tune in tomorrow as we'll be

114
00:07:11,480 --> 00:07:15,440
Speaker 2: crunching the numbers with Herald Business Editor at Large Liam

115
00:07:15,520 --> 00:07:15,760
Speaker 2: Dan