Graphic explainer: The mini-budget - what it is, why you should give a toss


Good-bye tax cuts and hello one year of free university, they're some of the policies which the government will let us know about in next week's mini-budget.

It’s a critical time for the New Zealand government, and provides a look into the country’s future financial decisions.
Source: 1 NEWS

But what does this all mean and why should you give a toss? Well for one reason, you're paying for it.

Thursday is a critical time for our government, as this is when Finance Minister Grant Robertson will deliver the "mini-budget", an outline of the raft of policy promises for the first 100-days.

The Finance Minister told the Auckland Chamber of Commerce today the “base” projections the government are starting from.
Source: 1 NEWS

1 NEWS political editor Corin Dann explains the important release will be made up of three parts:

1.      It contains the half year fiscal economic update (HYEFU) which spells out the cost of the government's 100 day commitments, like free tertiary education, and estimates the costs of promises far.

2.      The government's own budget policy statement which spells out the broad spending plants for the full 2018 budget.

3.       The mini-budget will hold legislation to cancel National’s $2 billion tax cuts and introduce Labour’s alternative Families Package. This is important as cancelling the tax cuts provides the extra money the government needs to carry out many of its policy commitments. 

ONN 1 News at 6 promo image

For more on this story, watch 1 NEWS at 6pm.

Source: 1 NEWS

Watch 1 NEWS at 6pm tonight for more. 

loading error