- New Zealand is set to provide cash payments to nearly 150,000 low-to-middle-income families with children to mitigate the financial strain from escalating petrol prices.
- Prime Minister Christopher Luxon announced that eligible families will receive an additional NZ$50 (£21.80) per week, with payments commencing from 1 April.
- The relief package, introduced by Mr Luxon and Finance Minister Nicola Willis, is slated to run for one year or until 91 octane petrol consistently drops below $3 (£1.30) a litre.
- The scheme is specifically aimed at working families with modest household incomes, excluding beneficiaries, superannuitants, and those without children, to prevent further inflation.
- Petrol prices have increased by 40-50 cents a litre, surpassing $3, following the Israel-US conflict on Iran, with New Zealand currently possessing 47 days of combined fuel stocks.
IN FULL
