Budget Speech

The Budget Speech is the Budget Statement the Minister of Finance delivers at the start of Parliament's Budget debate. The Budget Statement generally focuses on the overall fiscal and economic position, the Government's policy priorities and how those priorities will be funded.

Budget Speech
Published: 30 May 2019
Also published on the Treasury website.

Budget Priorities, part 5

Mr Speaker, the final Budget priority is Transforming the Economy.

As an outward facing export nation the risks to New Zealand from climate change cannot be underestimated. More frequent and intense weather events will affect the country's agricultural and horticultural sectors, with flow-on implications for exports and the economy as a whole.

The transition to a low-carbon economy will take time and Budget 2019 is an important step.

It provides funding to ensure the Independent Climate Change Commission can provide the advice, guidance and monitoring New Zealand needs to reduce greenhouse gas emissions in line with our goal of limiting global warming.

Budget 2019 also allocates significant investments into research and development initiatives to develop new ways to reduce emissions.

$8.5 million will be invested in the Global Research Alliance on Agricultural Greenhouse Gases together with an investment of $3.2 million for the Agricultural Climate Change Research Platform. This will support world-class research here in New Zealand to help agriculture deal with the effects of climate change.

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