Rt Hon Christopher Luxon
Prime Minister

For the Government, 2025 will bring a relentless focus on unleashing the growth we need to lift incomes, strengthen local businesses and create opportunity.

Prime Minister Christopher Luxon today laid out the Government’s growth agenda in his Statement to Parliament.

“Just over a year ago this Government was elected by the people of New Zealand with a mandate to change course. Since then, we have made big changes and we are seeing promising signs of success, with inflation dropping and remaining low, interest rates starting to fall, and wages continuing to rise,” Mr Luxon says.

“Business and consumer confidence is rising and average mortgage interest rates have now fallen for the first time in more than three years. Wages are rising faster than inflation, supporting a recovery in household incomes. Growth is also expected to resume, reaching 2.1 per cent in 2025 according to Treasury’s latest forecasts in the Half Year Economic and Fiscal Update.

“We need to act now to strengthen growth and productivity – both in the very near term and over the years to come.

“In 2025, we will take action to end the culture of no – whether that’s through Fast Track, comprehensive RMA reform, rewriting our health and safety laws, enabling more mining, allowing our farmers to grow their businesses with much less red tape, or other changes designed to promote more growth and investment.

“In this Government’s first year in office we made tough decisions to ease the cost of living and laid the foundations for a stronger economy, rising incomes and more opportunities for New Zealanders to get ahead.

“This year we will continue to build on this early progress to make sure these green shoots of recovery grow into lasting improvements that benefit all New Zealanders,” Mr Luxon says.

Read the Statement to Parliament Here

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