This year's Budget invests in the future of our communities. It will stimulate new jobs and deliver better services for families while keeping the Government on track for surplus in 2014/15.
The Budget's priorities are:
Responsibly managing Government finances.
Building a more competitive and productive economy.
Delivering better public services.
Rebuilding Christchurch.
Getting back to surplus in 2014/15 will strengthen the economy. Budget 2012 forecasts economic growth to average about 3 per cent a year over the next four years, with 154,000 new jobs created - on top of the 60,000 new jobs created in the past two years. National is increasing annual spending on science and innovation by $385 million over four years, to more than $1.3 billion a year by 2015/16.
Despite difficult financial conditions, investing in better frontline health services is a priority. Over four years, we will commit almost $1.5 billion extra to our public health service.
In education, our focus is on increasing student achievement.
Over four years, we will commit $511.9 million towards new early childhood and schooling initiatives while $59.8 million is being invested in teacher quality to support professional development for teachers and principals.
I know that these changes have been a particular point of concern for some people, and I've already received many emails on what this means for intermediate technology classes. It's clear that there are some schools where this could have a serious impact.
Contrary to some of the dire "end of technology classes" rhetoric from some people, that's not the Government's intention. Technology classes give students valuable skills, whether it's for the odd bit of DIY round the home, or the foundation for a career as a tradesperson.
The technology curriculum is not being cut - we are not going to undermine these technical trades at the very time we need more people, not fewer, becoming electricians, plumbers, builders and the like.
The Government will be working with schools on how to implement this policy in a practical and reasonable way.
Budget 2012 also invests in improving the transition for teenagers from school into work or training, providing 3000 more free Youth Guarantee places.
We will keep protecting vulnerable New Zealanders through Working For Families, New Zealand Superannuation, and welfare benefits. However, we believe that those who can work should work. That's why, as part of the first phase of welfare reform, Budget 2012 invests $287.5 million on education and training.
As the crowd chanted, Seymour walked back into the Beehive with his MPs.