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The Latest Breaking News from Budget

This is the biggest house sale loss – but worse is to come as interest rates rise

Today's Reserve Bank rates decision is heralded by economists as its most important since Covid. An anticipated OCR hike will put new pressure on mortgaged homeowners in election year. Jonathan Milne reports.

Newsroom.co.nz

Raw Politics: Labour rebrands itself, Luxon's business whispers

This week on the Raw Politics podcast: Labour rebrands as 'The Chris Hipkins Government', Christopher Luxon faces a tired old rumour mill - and a Budget that makes small points well.

Newsroom.co.nz

Budget 2023 won't move dial on R&D 'hole'

The Govt is committed to a target of getting investment to 2% of GDP as a way to “help build a high-skill, knowledge-based and more productive economy”. This is not a Budget to get us there.

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Budget 2023: Hipkins' pragmatic push puts National in tight spot

Chris Hipkins' first Budget as Prime Minister was deliberately unambitious compared to those under Jacinda Ardern - but a shared appreciation for universalism has put National in an awkward spot.

Newsroom.co.nz

Robertson becomes ever less the visionary leader

In the Budget James Shaw was the only minister to link how a sustainable, climate-compatible economy generates wealth in all its forms. Every minister should have made variations on that theme

Newsroom.co.nz

Budget 2023: Dropping $5 charge good for health, and business

Some pharmacies calling for scrapping prescription charges may in fact benefit

Newsroom.co.nz

Cheaper childcare not so 'win-win'

Budget 2023 makes childhood education cheaper and boosts teacher pay, but long delays in rolling out new policy has people in the sector scratching their heads

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A disappointing Budget for the climate

The Government risks running out of money for the climate response if it keeps blunting its carbon-cutting tools and raiding climate funds.

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Disabled employment subsidies spark concerns

An initiative to pay disabled people the minimum wage has had mixed reactions from the community, with fears businesses will continue to exploit cheap labour.

Newsroom.co.nz

'Bullshit ambush': Gas levy urgently passed on Budget night

A rapid, last-minute amendment to laws governing the levies paid by fossil gas field operators was passed through Parliament on Thursday night.

Newsroom.co.nz

Budget 2023: Jibes and jabs from the Opposition

From the “no frills” Budget to the “blowout” Budget, the speeches in the House on Thursday had plenty of one-liners and no shortage of over-used catchphrases. Political editor Jo Moir was there to watch it all.

Newsroom.co.nz

Budget 2023: No ‘major’ new taxes but $80b more tax revenue

High-earning New Zealanders moved nearly $6 billion income a year into trusts after the Government introduced a new 39c personal tax rate – but now Inland Revenue will chase it down.

Newsroom.co.nz

Budget's main relief slow to land for parents

The cornerstone of the Government’s cost-of-living package won’t kick in for almost a year. It isn’t the big ideas Budget Grant Robertson would have liked to deliver and leaves it exposed to attacks from the Opposition in election year, writes political editor Jo Moir.

Newsroom.co.nz

Budget 2023: ECE expansion, prescription changes in 'pragmatic' plan

The Finance Minister has unveiled a measured Budget as New Zealand is forecast to avoid recession - but low growth and peak unemployment expected to hang around.

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Budget 2023: Climate fund slashed by $800m

While nearly $2 billion of new climate-related spending was announced in Budget 2023, funding for future policies was cut by $800 million.

Newsroom.co.nz

Budget: Time to pay the piper for Three Waters IT system

The Government goes into this week's Budget with a list of $16 billion in quantifiable contingent liabilities; some costs may never transpire but some will now come due

The Hindu

Welfare spending has been getting a regular pruning

Central allocations for various welfare schemes and sectors in India that ensure basic rights have declined as a proportion of GDP

Newsroom.co.nz

PM dodges questions over elderly living in poverty

Though no political leader will commit to means-testing superannuation as it would amount to political-suicide, there’s an argument to be made for doing so for the winter energy payment

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The Independent UK

Rishi Sunak has questions to answer over grant to firm wife has stake in, says Keir Starmer

The Labour leader said there seemed to be an ’emerging pattern of behaviour’ when it came to Rishi Sunak’s family’s financial interests

The Independent UK

Starmer: PM has questions to answer over UK grant to firm wife has stake in

The Labour leader said there seemed to be an ’emerging pattern of behaviour’ when it came to Rishi Sunak’s family’s financial interests.

Newsroom.co.nz

Ombudsman makes late Budget bid following cyclone devastation

As communities recover from severe weather events, a key watchdog says he needs more staff to handle a likely spike in complaints about government agencies.

The Hindu

Poll promises may require major rejig of budgetary allocation

Karnataka’s budgetary allocation may have to undergo a major rejig to implement the poll promises made by the Congress and the Janata Dal (Secular), if either of them come to power after the May 10 Assembly elections.

Irish Mirror

Taoiseach rules out price controls on groceries amid 'rationing' concerns

The Labour Party's finance spokesperson Ged Nash told Taoiseach Leo Varadkar that families are facing rising grocery prices as he called for price controls

The Hindu

Sharp Budget cut in MGNREGS outlay will kill the scheme: Udit Raj

The sharp Budget cut for the MGNREGS has left the State governments paralysed, senior Congress leader and chairman of the party’s “unorganised workers and employee” wing Udit Raj said.

Daily Mirror

Rishi Sunak's 14 worst gaffes and scandals from his first six months in No10

It's been six months since Rishi Sunak stood on the steps of Downing Street pledging a Government with 'integrity, professionalism and accountability'. Since then three cabinet members have left under a cloud and he's being investigated by Parliament's standards watchdog

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