Grant Robertson delivered the Labour-led Government's first Budget today at 2pm. Read below the step by step moments as Robertson, National Leader Simon Bridges and PM Jacinda Ardern debated Budget 2018:
And catch all the coverage throughout tonight with 1 NEWS at 6pm and on 1 NEWS NOW .
3.30pm: In summing up the PM says she hopes Budget 2018 "sends the message that we are prepared, that we have delivered a surplus because we've prepared for the horizon."
"I hope it says that we're thinking about more than three years, that whether it's growing jobs or protecting your environment you need a plan.
"I hope it says that we know the basics are important and I hope it says we have laid the foundations for the future. I commend this budget to the House."
3.26pm: The PM brings up the future of her own child in NZ, and how she wants them to be proud of the direction her government took the country in.
"If we're not here for kids of the future of the country they live in then why are we here, and if our budget isn't for people then what is it for," she says.
3.23pm: "Today we shift the focus of government from electoral cycles to generational ones," the PM says.
3.21pm: The families package to start in six weeks time, "that was the right decision" the PM says, as opposed to just making a political decision and hanging onto that money.
3.18pm: "We're rebuilding a government that thinks about people," the PM says in summing up her budget.
"On that side of the house there's a lot of shouty, shouty and not a lot of plan-y plan-y," the PM says to laughter from her side.
3.15pm: PM disputes Bridges' assertion that National spent more on health, saying the package for farer pay for carers forced on them through the courts should not be included.
"If we are comparing apples with apples, on this side of the house it's $3.2 billion versus $2.3 on that side," the PM says.
"This is going to be the most significant increase for our DHBs and they know it."
3.12pm: Jacinda Ardern stands and begins to speak.
3.10pm: Simon Bridges takes aim at $9 million bio-security spend: "All talk, no action," he says.
Rounding out his speech Bridges says this government is spending "less in health" where there is a crisis in that area.
"What an indictment on this country. This rhetoric over reality budget... the National Party will be ready to pick up the pieces in 2 and a half years time."
3.08pm: Provocative question form Bridges to PM Jacinda Ardern: "When the Prime Minister stands to give her speech I've got just one question I want answered. Will there be more serious sexual, violent and drug offenders living next to hard working NZ families?"
3.06pm: "Every now and again to keep NZers safe you do have to build a prison" Simon Bridges says, citing Labour's aim to cut the prison population.
3.02pm: Kiwibuild, a "flagship policy, emblematic of this government - that's why nothing about it stands up". They've promised 100,000 homes on $2 billion spend. "Already Phil Twyford's raising the white flag."
"A hoax" Simon Bridges says, government just going to stick Kiwibuild sticker on already built and commissioned developments and claim they're part of 100,000 homes promised.
2.59pm: "When Winston Peters goes to the islands he's carried up on a throne above their heads" - Bridges says criticising the $1 billion in foreign aid and funding to the Ministry of Foreign Affairs in this budget. "We didn't know Winston would make us do this," Bridges says - mimicking Robertson.
2.55pm: Bridges says this budget will implement $2 billion more in tax over the next four years for NZers. Whereas under National there would have been $1000 more in each working families' pocket - "a stark contrast".
2.52pm: National party leader Simon Bridges is now speaking, beginning by saying Parliament and the country has no confidence in Robertson's Budget 2018. This budget "takes us precisely as a country in the wrong direction... a borrow and hope budget... and a special form of incompetence."
2.51pm: Grant Robertson has finished presenting his first budget to a standing ovation from his side of the house.
2.46pm: "Well-being approach" to Budget 2018 Robertson says. Won't use GDP as the only sign of success - "Real success means much more for New Zealanders," Robertson says.
2.40pm: Govt to introduce a legally binding emissions reduction target. Plus an independent climate commission to provide advice. All designed to get to a net zero emissions economy by 2050.
2.38pm: $9.3 million in new operating funding for bio-security.
2.37pm: Introduction of e-invoicing enables small businesses to be paid on time.
2.33pm: Robertson now quotes Albert Einstein: "No problem can be solved by the same kind of thinking that created it." That's why there's $1 billion for innovation over four years to finance a tax incentive for more research and development by kiwi businesses.
Child poverty, housing, and homelessness
$813m is going to operations and $369m to capital to address issues such as target "chronic homelessness" and to allocate grants for low-income houses to get insulation for eligible homes.
$649m will go to biodiversity, forestry and conservation, and also to climate change, biosecurity and environmental protection.
The government has put $534m towards "enriching New Zealand's culture and identity". It will go to crown-Maori relations and Maori development, NZ arts, culture and heritage, and to defence and internal affairs ($386m for operating funds and $40m capital).
Economic development and the regions
$2.8 billion into the promotion of "economic development and supporting the regions package".
2.28pm: $67 million for bowel screening programme.
Rebuilding critical public services
Health - $3.2 billion to operating and $850 million
Education - $1.6 billion operating, $334 million capital
Justice - $1 billion opertating, $216 million capital
Supporting at-risk families - $460 million operating, $17m capital
2.25pm: Free doctors' visits to everyone under 14 - in agreement with NZ First, Robertson says.
2.21pm: First step - low cost GP visits being extended to all community service card holders. Extending community service cards to all tenants of Housing NZ, and those receiveing a income supplement.
Will make doctors' visits $20-30 cheaper for half a million people.
2.19pm: operating surplus for NZ economy projected at $3.1 billion by 2017-18.
$3.7 billion surplus by 2018-19.
2.17pm: Unemployment is expected to get down to 4.1 per cent by late 2019, Robertson says.
2.15pm: "No one wants a New Zealand where children have to live in a car," but this where the country finds itself today, Robertson says. Therefore social infrastructure is crucial to the Labour-led government's funding.
2.14pm: Low carbon economy is a priority for this government.
2.13pm: Labour is happy to work with Greens and NZ First, from different origins he admits, but both committed to improving the lives of Kiwis.
2.12pm: This Government restarted payments to the NZ super fund after nine years of no government contribution, Robertson says to applause.
2.10pm: The government's family package will make 384,000 families $75 per week better off, Robertson says.
2.08pm: Robertson says first action of this budget was to reverse the "untargeted tax cuts" proposed by the previous National government. Robertson says his government's priority is improving the lives of middle and working class New Zealanders.
2.07pm: Grant Robertson begins by saying this is a government that does things a "little bit differnetly" and this Budget 2018 will reflect that.
"Budget 2018 lays out the foundations for NZers to have better lives in the future," he says.
2.05pm: Here's a short rundown of Budget 2018 highlights from our 1 NEWS journalists in the lock-up at Parliament, who've been looking over the document for the last few hours:
• Health receives a huge boost with $3.2 billion more in operating funding over the next four years and $850 million new capital – including $750 million to tackle some of hospitals’ most urgent building problems, the biggest capital injection in health in at least the last decade.
• This Budget commits to free doctors’ visits for everyone under the age of 14 – an extra 56,000 of our young people from the current policy. It is extending very low-cost general practitioner (GP) visits to all Community Services Card holders and extending the Card to all Housing New Zealand tenants and New Zealanders who receive an accommodation supplement or income-related rent subsidy. This will make going to the GP cheaper by up to $30 for the 540,000 people eligible for the Card.
• Elective surgery, maternity services, air ambulances and the National Bowel Screening Programme are among the health services receiving extra funding.
• New capital funding will build schools and hundreds of new classrooms. Operating funding for education over the next four years increases by $1.6 billion to address rising demand, fund 1,500 more teachers and raise teacher-aide funding. Early childhood education gets a $590.2 million operating boost over four years, benefiting over 200,000 children. A total of $284 million goes to Learning Support to allow every child with special education needs and learning difficulties to better participate in school life.
• Housing is boosted by more than $634 million in operating funds. Govt will increase public housing by over 6,000 homes over the next four years, provide more transitional housing and help for the homeless and offer grants for insulation and heating.
2.03pm: And Finance Minister Grant Robertson is underway presenting his first budget in Parliament's debating chamber.
Good afternoon, welcome to today's live coverage of the 2018 Budget, to be delivered by Finance Minister Grant Robertson.
The Labour-led Government has already trickled out a raft of pre-Budget announcements with big money for conservation, foreign affairs and homelessness, ahead of the Budget today at 2pm.
Mr Robertson announced on May 8 a "slightly better-than-expected" run-up to the government's first Budget, with a surplus sitting $910 million higher than forecast by Treasury last December.
He said that was an indication that business profits were higher, along with a continuation of "strong" employment growth.
1NEWS' Political Editor Jessica Mutch expects today's big winners to be health, education and state housing.
"With education, things like early childhood education we understand will be a winner, and special education," Mutch said last night.
There have been a lot of hints that school buildings will be in for a win too, adding that alot was riding on this Budget for the Finance Minister.
"He's set to deliver a higher-than-expected surplus. And he's going to be putting some of that aside in a kitty. He's going to be saving it for a rainy day for things like a natural disaster or for this Mycoplasma bovis outbreak."
The Government has already delayed some promises and our political editor says there could be more.
"We saw that with the cheaper GP visits that were promised. And we'll find out more details of that in the Budget. There could also be more that are delayed or phased in as well."
National has said the Government has inherited a very favourable position with a lot of money to spend in this Budget.
But Mutch said with that comes expectation, especially for those that traditionally do well under Labour, and we'll see if it delivers in Thursday's Budget.