The Government will publish its budget in just over a weeks' time on 26 May.
This Budget has a strong focus on investing in our growing economy. It will advance the Business Growth Agenda put in place over recent years to facilitate a more productive, innovative and competitive economy.
It will include another significant expansion in investment on essential social services to meet the needs of our growing population while offering more direct support for the most vulnerable New Zealanders.
Highlights of Budget 2016 include $124 million extra funding for Pharmac so that it can fund more lifesaving drugs for more New Zealanders, including treatments for advanced melanoma and Hepatitis C. For us here in the Bay this means the funding of more vital medicines that members of our community desperately need support with.
The Budget also brings with it $41 million for 3,000 emergency housing placements a year across the country so people have access to a roof over their head when they need it most. For the Bay of Plenty this will mean 60 places for individuals or families at any one time, for a maximum stay of 3 months. Over a year the emergency housing will provide 240 places for families and individuals in need which is vital support our families and communities.
Small and medium-sized businesses are the backbone of our communities. In the Western Bay of Plenty 96 per cent or businesses employ 20 or fewer people. That's why we've announced $187 million for an important small business tax package which, among other things, will reform provisional tax to give 110,000 small businesses a pay-as-you-go option from 1 April 2018.
Ensuring New Zealand stays on track for sustained employment and economic growth was top-of-mind as Ministers finalised the content of Budget 2016. We had to be confident our choices would strengthen the economy's engine room, at the same time as we address social need.
The economic outlook is for solid, sustained growth over the next few years.
