BUDGET 2010 - BUILDING THE RECOVERY
Budget 2010 focuses squarely on getting the economy growing faster. It helps Kiwi families get ahead. And it sets New Zealand on a path to turn back debt and return to surplus. I believe it will be a huge boost for Hawkes Bay.
The budget delivers the biggest reform of our tax system for nearly 25 years. As a result three quarters of Hawkes Bay workers will now face top tax rates of no higher than 17.5%, where two years ago many faced tax rates of 33%.
Across-the-board personal tax cuts and a package of tax changes will boost economic growth, make the tax rules fairer, and help hard-working Kiwis get ahead.
The tax reforms, after allowing for GST, will leave someone on the average wage almost $15 a week better off. A family on the average household income with two children will be about $25 better off. A couple receiving National Super will be $10.77 better off.
Budget 2010 builds on our economic recovery and tilts the economy so that faster growth comes in the right places. And it is faster growth that will support increased wages.
For too long, New Zealand has relied on investment in property speculation, rising debt, and unsustainable increases in government spending. The Budget takes action to encourage investment in the productive parts of the economy such as exporting which is so vital to the Bay. It gives the vast bulk of Kiwis extra cash in their pockets so they have more choices.
It also continues this Government’s multi-billion dollar investment in infrastructure such as high-speed broadband, roads (locally think Matahoura Gorge and Southern Expressway), and schools (locally think Napier Intermediate, Arthur Miller, NBHS). And it makes a substantial investment in research, science, and technology. We’re putting an extra $2.1 billion into frontline healthcare over the next four years, and an extra $1.4 billion for better schools and early childhood education services. School Operating Budgets go up by 4%.
We are tackling rising debt, and Kiwis will see a return to surplus in the government accounts three years sooner than forecast last year.
All in all I think it’s a great budget for Hawkes Bay and New Zealand.
Budget 2010 focuses squarely on getting the economy growing faster. It helps Kiwi families get ahead. And it sets New Zealand on a path to turn back debt and return to surplus. I believe it will be a huge boost for Hawkes Bay.
The budget delivers the biggest reform of our tax system for nearly 25 years. As a result three quarters of Hawkes Bay workers will now face top tax rates of no higher than 17.5%, where two years ago many faced tax rates of 33%.
Across-the-board personal tax cuts and a package of tax changes will boost economic growth, make the tax rules fairer, and help hard-working Kiwis get ahead.
The tax reforms, after allowing for GST, will leave someone on the average wage almost $15 a week better off. A family on the average household income with two children will be about $25 better off. A couple receiving National Super will be $10.77 better off.
Budget 2010 builds on our economic recovery and tilts the economy so that faster growth comes in the right places. And it is faster growth that will support increased wages.
For too long, New Zealand has relied on investment in property speculation, rising debt, and unsustainable increases in government spending. The Budget takes action to encourage investment in the productive parts of the economy such as exporting which is so vital to the Bay. It gives the vast bulk of Kiwis extra cash in their pockets so they have more choices.
It also continues this Government’s multi-billion dollar investment in infrastructure such as high-speed broadband, roads (locally think Matahoura Gorge and Southern Expressway), and schools (locally think Napier Intermediate, Arthur Miller, NBHS). And it makes a substantial investment in research, science, and technology. We’re putting an extra $2.1 billion into frontline healthcare over the next four years, and an extra $1.4 billion for better schools and early childhood education services. School Operating Budgets go up by 4%.
We are tackling rising debt, and Kiwis will see a return to surplus in the government accounts three years sooner than forecast last year.
All in all I think it’s a great budget for Hawkes Bay and New Zealand.
