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.
Child Poverty Report
Budget 2019 marks New Zealand's first ever Budget Day report on child poverty. Our goal, as articulated by the Prime Minister, is for New Zealand to be the best place in the world to be a child.
We have passed legislation in this House to make sure that Governments now - and in the future - are held to account for decisions that have impacts on children living in poverty. The Child Poverty Reduction Act will help to ensure an enduring focus on reducing child poverty, political accountability against published targets, and transparent reporting on the progress we are making.
The Child Poverty Report indicates that as at 2017/18 around 180,000 New Zealand children lived in poverty, on a before housing costs measure, and around 250,000 on an after housing cost measure.
The Government has already set ambitious 10-year targets to halve child poverty and three-year targets to significantly reduce the rates.
This Budget builds on the Families Package from last year that came into effect after the baseline data for this report.
It also increases incomes and gives our education system the resources to help make New Zealand one of the best countries in which to be a child.
The Child Poverty Report indicates that, due to our policies, by 2020/21 we will reduce the number of children in poverty on the before housing cost measure by between 41,000 and 66,000 children, and between 50,000 and 74,000 children on the after housing cost measure.
I encourage members to read the full report in the Budget documentation.