What the Budget means for you

What the Budget means for you

Bill English's eighth Budget held few major surprises, but the Government's spending was wide-ranging.

Everything from ballet to science to infrastructure received some funding. There's a lot of data and numbers to go through, but here's what they mean for some people.

What the Budget means for you

The bane of small to medium-sized businesses is provisional tax which means they pay tax in instalments during the year, but they can get stung with charges if they underestimate projected earnings. A new pay-as-you-go system will be available from April 1, 2018.

Regional businesses could also be in for a boon as part of the $761 million Innovative New Zealand package. The money includes $94 million for regional economic development which will open business opportunities. 

What the Budget means for you

School students may soon have new windows to gaze out of with $883 million being invested in school property, including nine new schools and 480 new classrooms.

For tertiary students, especially in science, engineering and agriculture, there is $257 million being invested in education and apprenticeship programmes.

There's also $61 million to help 18- and 19-year-old job-seekers at risk of long-term welfare dependency.

What the Budget means for you

There was nothing specific in the Budget for first-home buyers, particularly in Auckland, to help get them into the property market, but there was a bit around the supply of land.

But Finance Minister Bill English had a warning for councils to link their decisions to whether they reduce house prices. A National Policy Statement on Urban Development released soon will tell councils to "adjust their plans" to allow for more development if needed.

Additionally, $100 million will be used for housing development on Crown land as part of the policy announced last year.

What the Budget means for you

For families with kids, $73 million will fund free doctor visits and prescriptions for under-13s.

For families needing a home, $200 million will be spent on another 750 state tenancies, and $42 million will support 3000 emergency housing places.

The Budget provides $36 million for more housing insulation.

What the Budget means for you

Nearly $41 million is being invested to keep the SuperGold card off-peak travel scheme going.

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