The government is promising to "transform" New Zealand's economy, while providing a surplus and injecting additional funding into "critical public services", such as housing, health and education.
Finance Minister Grant Robertson said in a business speech today he wanted to move New Zealand's economy to one that is "more productive, more sustainable, and more inclusive".
"Despite the economic growth in recent years, many Kiwis have not seen the improvement in their living standards."
He said Budget 2018 has the intention to rebuild "critical public services, at its core", "so that New Zealanders receive the healthcare, education, housing and support for their communities that they expect and deserve".
"Health and education will get long overdue boosts to its capital and operating funding. Housing initiatives will receive a boost on top of the $2 billion we announced in the December mini-budget."
Mr Robertson's optimistic Budget speech however did acknowledge there could be delays on promises.
"We will not make up for nine years of neglect in one budget. This does mean some things will be phased, or will not start until next year."
The government has come under scrutiny after it was revealed Labour’s promise to decrease the price of doctor visits will have to wait. (Source: Other)
This was highlighted recently due to Labour's election promise of a GP price drop from July 1, 2018, that may instead be phased in, with no guarantee of when the move is set to be implemented.
Mr Robertson said the government "owe" it to future generations to produce a fiscally responsible budget, that lays within Budget Responsibility Rules and produces a surplus, "and surpluses in subsequent years".
Tax-dodgers will be targeted, the bright-line test will be extended, and the government are finishing work started by the National government "to ensure foreign and multi-national companies pay their fair share of tax in New Zealand".
"As a result of these changes to make our tax system fairer, and our initial reprioritisation drive, we have freed up about $1.4 billion of funding over the next four years which will be re-invested in this Government’s priorities."
Budget 2018 will take place on May 17.
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