540 days ago

Budget 2023 highlights: What's in it for YOU?

Brian from Mount Roskill

The key highlights:
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Extension of 20 hours Early Childhood Education to include 2-year-olds - $1.2b

Abolition of $5 prescription co-payment - $619m
Cheaper public transport for children - $327m
$71b in infrastructure spending
Inflation forecast to stay higher, for longer
Net core Crown debt hits $181b
The cost of living package targets families with young children.

For parents
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Two-year-olds included in 20 hours of free early childhood education from March 2024, at a cost of $1.2 billion over four years. This saves eligible parents about $133 a week. Subsidies for childcare centres rise by 5.3 per cent, costing $260 million over four years.

Public transport
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$327 million for free public transport for primary school-aged children, half price public transport for under 25′s from 1 July - benefiting about 774,000 people. Pay rises for bus drivers.

Health
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Removing $5 co-payment for prescriptions, cost: $618 million over four years.
More money to help reduce waiting lists ($118 million) and $100 million to boost primary care. $63 million for 500 extra nurses. $75 million more for Pharmac.

The tax change
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Tax rate for trustees to increase to 39 per cent from April 2024 - the same as the top income tax rate. Aimed at stopping people using trusts for their income to avoid the higher tax rate. Expected to raise $350 million a year.

Post-cyclone infrastructure
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National Resilience Plan set up with initial funding of $6 billion - first priority is repair and rebuild of telecommunications, energy and roading after Auckland flooding and Cyclone Gabrielle.

Housing
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$403 million to expand scheme for heating and insulation installations to 100,000 more homes. 3000 new public housing places.

The economy
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Inflation is forecast to drop to 3 per cent by next September.
Treasury no longer forecasting a recession, due to cyclone recovery. Unemployment is forecast to peak at 5.3 per cent in late 2024.
GDP is forecast at 3.2 per cent this year, dropping to 1 per cent next year.

The books
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Return to surplus forecast in 2025/26. Net debt is forecast to peak at 22 per cent in 2024.

The surprises
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$34 million increase in funding for Te Matatini (over two years) - up from $3 million a year now. The festival will get more funding than the NZ Symphony Orchestra for the first time.

New 20 per cent rebate for game development studios - allowing them to claim up to $3 million a year in rebates.
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More messages from your neighbours
22 hours ago

Unlock the Answer: Today’s Riddle is Trickier Than You Think!

Riddler from The Neighbourly Riddler

What English word retains the same pronunciation, even after you take away four of its five letters?

Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.

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1 day ago

Poll: Is it rude to talk on the phone on a bus?

The Team from Neighbourly.co.nz

Buses can be a relaxing way to get home if you have a seat and enough space. However, it can be off-putting when someone is taking a phone call next to you.

Do you think it's inconsiderate for people to have lengthy phone calls on a bus? Vote in the poll, and add your comments below.

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Is it rude to talk on the phone on a bus?
  • 64.2% Yes
    64.2% Complete
  • 33.4% No
    33.4% Complete
  • 2.4% Other - I'll share below
    2.4% Complete
1552 votes
10 hours ago

Celebrating SiteWise Gold 100% for 8 Consecutive Years!

Topline Group

Topline has once again achieved SiteWise Gold with a perfect score of 100% for the 2024 / 2025 period - that’s 8 years in a row and counting. It’s a testament to Topline’s ongoing H&S Compliance focus.

The requirements increased this year, with more questions, more evidence and a higher quality scale necessary to score full marks. It takes commitment from the entire team at Topline and an outstanding health & safety culture to achieve this.

“An excellent submission. Congratulations on achieving Gold Standard and a perfect score. Very well done.” SiteWise Assessor - Neville W.

To achieve a perfect score validates our unwavering ongoing commitment to Health & Safety Compliance procedures. We are proud of our SiteWise Gold status, with very few companies in NZ (less than 5%) having achieved this for so many consecutive years.

Read more about this fantastic achievement here:

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