Rt Hon John Key
Prime Minister

24 May 2012

Budget 2012: Investing in New Zealand’s future

Budget 2012 invests in New Zealand’s future with significantly more money for science and innovation, and health and education, while keeping the Government on track for surplus in 2014/15, Prime Minister John Key says.

“Our priorities are responsibly managing the Government’s finances, building a more productive economy, delivering better public services within tight financial constraints, and rebuilding Christchurch.

“Budget 2012 confirms initiatives and good progress within these priority areas, which are vital in delivering real results for New Zealanders.

“We remain on track to return to Budget surplus in 2014/15, which will strengthen New Zealand’s economic resilience.

“Our commitment to surplus is not a single-minded goal – it’s part of our wider programme to build a more productive and competitive economy and brighter future for all New Zealanders.

“Budget 2012 makes significant progress in that programme. We are investing heavily in science and innovation, and in health and education, while also staying tough on crime,” Mr Key says.

“At the same time, we are protecting vulnerable New Zealanders through Working for Families, New Zealand Superannuation, and welfare benefits.

“However, we firmly believe that people who can work, should work. That’s why this Government is investing up-front in ambitious welfare reform – so beneficiaries are better supported and encouraged to move into work.

“We are delivering to New Zealanders on policies we clearly set out during the 2011 General Election – the next steps in our programme for a more productive and competitive economy, more jobs, and higher incomes.”

ENDS

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