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The New Zealand Government’s 2021 Budget is set to ‘sharpen’ focus on supporting economic bounce back from the COVID-19 Pandemic.
Keeping New Zealanders safe from the virus is the most important goal for all-of Government motives.
Finance Minister Grant Robertson revealed a Policy Statement for the 2021 Budget providing a chance to take stock on relief efforts.
“The recovery is the result of the hard work and sacrifice that New Zealanders collectively put in across 2020. We now have an opportunity, through our better than expected recovery and fiscal position, to address some of our long-standing challenges,” said Grant Robertson.
He will be continuing his focus on making sure spending is targeted at specific areas where people need it most.
Allowances however for 2021 are unchanged since December but are subject to be changed on whether the economic conditions were to change.
Housing and public services will be taken note of within a balanced approach in investments to make them stronger.
“New numbers released today using Treasury’s Fiscal Strategy model show that our better than expected recovery means the net debt is now forecast to reduce to 36.5% of GDP by 2034/35. While these are only projections, they show the progress that we are making,” said Grant Robertson.
“New Zealanders trusted us to keep them safe last year, and we will continue to make the tough decisions required to do that, while also keeping the economy moving in the right direction.”
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