Budget 2021: What is it and what to know before the announcement
19 May, 2021 06:00 PM
3 minutes to read
Finance Minister Grant Robertson will deliver Budget 2021 on Thursday. Photo / NZME
OPINION
It s budget time. It s the time of year when the Government seems to be spending more money than we can comprehend in ways many members of the public don t quite understand. So what is the Budget and why should we care in little ol Bay of Plenty?
According to Labour itself, the Budget is when all of the Government s investments for the next year get planned out – and it s also when the Government explains why its Budget is the way it is .
How does the government Budget work and what does that mean for you?
Finance Minister Grant Robertson will reveal how the Government plans to spend its money on Thursday when he unveils this year’s Budget. While it’s expected that there will be few surprises and little extravagance, Stuff asked five people what one thing should be top of the list for new spending.
Hagen Hopkins/Getty Images Richard Wagstaff, Council of Trade Unions president: A long-term plan for investment in the economy and public services. Including a focus on creating a more productive, sustainable and inclusive society with an economy which works for people. This plan needs to articulate what Build Back Better means for all New Zealanders.
Finance Minister Grant Robertson says 2021 is still a Covid-19 Budget.
Photo: RNZ/Dom Thomas
There are big expectations around the usual areas - health and education, but do not expect much more for housing after the multi-billion package announced in March.
The one exception will be what Finance Minister Grant Robertson describes as significant funding for Māori housing.
This time last year he was staring down the barrel of the pandemic and the unknown extent of the economic damage it would cause.
Robertson says 2021 is still a Covid-19 Budget.
New Zealand is not out of the woods yet , he says, and while both the global and domestic economy has done better than expected, every single forecast that [he reads] includes the words uncertainty and volatility .
Huge debt means major Budget announcement unlikely msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.