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Budget 2024

Budget 2024 fails the most important tests

This Budget highlights the Government’s priorities, favouring tax cuts and reduced spending over essential investments. With an additional $17.1bn in borrowing by June 2028 due to nearly $10bn in tax cuts, it contradicts promises of fiscal responsibility. Significant cuts in education, health, and climate initiatives show a preference for short-term gains over long-term stability. This approach risks rising child poverty and financial insecurity, prioritising political survival over New Zealand’s real investment needs.

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