- $2b package
- The full average annual cost of the Family Incomes Package is $2.0 billion, and the total cost is $6.5 billion over the next four years.
Family Incomes Package cost by component
|Reduction in tax revenue including IETC||486||1,896||1,895||1,976|
|Working for Families||97||373||318||310|
|Consequential impacts ||-74.3||-575.2||-760.9||-693.7|
|Operating balance impact||603.6||2,075.3||1,852.3||2,012.0|
Consequential impacts include, for example, increased GST revenue as people spend their additional after-tax income, a reduction in gross benefit expenditure (as the net payments to benefit recipients are unchanged), partially offset by increases in New Zealand Superannuation payments due to an increase in the after-tax average wage (to which it is linked).