Hosts Katie Harris and Cheree Kinnear. Photo / File
Hosts Katie Harris and Cheree Kinnear. Photo / File
The much-awaited Budget 2022 has handed many young Kiwis a financial bone, including those hoping to purchase a first home, low-to-middle-income earners and people needing mental health support.
Housing Minister Megan Woods announced first-home grant house price cap jumps of as much as $275,000 would be applied in some areas.
This means more Kiwis hoping to wrangle a spot on the property ladder may have access to the grant, totalling up to $5000 for existing homes and $10,000 for new ones.
On today's In the Loop podcast NZME political reporter Aaron Dahmen said the "mega-budget" will, by design, benefit young people.
The first-home grant price cap in Auckland will rise from $700,000 to $875,000. In Wellington and Queenstown-Lakes, the new cap will be even higher at $925,000.
The Hamilton urban cap rises from $600,000 to $725,000. In Tauranga, the old cap was also $600,000 but now it will be $875,000.
And in Christchurch, the cap will rise from $550,000 to $750,000.
Dahmen said other moves include house price caps being removed entirely from the first-home-loan application process.
"So the Government has moved as part of the Budget on housing, and maybe, maybe, there is a bit of light at the end of the tunnel when it comes to us one day perhaps, maybe, buying a house."
Newstalk ZB political reporter Aaron Dahmen. Photo / File
Also sweetening the deal for many young people is the new cost-of-living payment which will total $350 and be paid over three months for those who earned less than $70,000 in the last year - about 2.1 million people.
It will not be available for those who get the Winter Warmer payments, such as pensioners and beneficiaries.
Dahmen said healthcare was also a big winner, with cash injections being given for more cancer drugs and dental care.
The Government has made good on its 2020 election pledge to increase emergency dental grants from $300 to $1000, paying for people who need emergency dental care.
Transgender and intersex health will get a small funding boost. About half a million dollars a year will go to providing more gender transition services, and improving guidelines for gender affirmation procedures. About $700m a year will go to implementing a "rights-based" approach to intersex care.
Earlier this week Dahmen revealed eating disorder services were a priority for the Government.
"That's been integrated within the Budget, $100 million dollars is going towards specialist mental health and addiction services, which includes child and adolescent mental health and addiction services, eating disorders services.
"It is significant, because it's the first time that there's been a targeted investment into eating disorder services since 2009."
As well as this, those enjoying the half-price public transport fares can rest easy as the scheme is being extended for all until August and will also now be permanent for the one million people who have community services cards.
