Budget at a Glance
Delivering for New Zealanders
The outlook for the economy is positive and the Crown's books are steadily improving.
Real GDP growth of 3.1 per cent on average over the next five years.
Over 200,000 more jobs created over the last three years and another 215,000 expected by 2021.
Rising surpluses and net debt falls to 19.3 per cent of GDP in 2020/21.
The average wage is expected to rise to $64,300 a year by 2021.
New spending in Budget 2017
The Government's Fiscal Priorities
Maintain rising OBEGAL surpluses over the forecast period so that cash surpluses are generated and net debt begins to reduce in dollar terms.
Reduce net debt to around 20 per cent of GDP in 2020, and to between 10 and 15 per cent of GDP by 2025.
Invest in the public services and infrastructure needed for a growing country.
As fiscal conditions allow, adjust tax and transfer settings to improve family incomes and simplify the tax and transfer system.