Budget 2018: What we know already

Budget day has arrived and Labour has been careful to temper expectations, already branding it as 'the rebuild budget'.

With an estimated total budget of around $80b, a significant amount of money has already been pledged in pre-budget announcements. Here's what we know so far about who is getting what, and how much it's costing.

Budget 2018: What we know already
Photo credit: Getty.

Auckland Transport Alignment Project (ATAP) - $18.5b

The Government's biggest announcement so far has been the $18.5b they'll be kicking in over the next ten years to the huge $28b ATAP infrastructure boost. Of that total, $4.6b is new money.

Families Package - $5.5b

The new Families Package announced in December 2017 includes a Winter Energy Payment, Best Start tax credit, changes to Accommodation Supplements and Working for Families tax credits, with the money being rolled out over five years.

KiwiBuild - $2b

The Government's plan to address the housing crisis was announced in October last year and aims to build 100,000 'affordable' new homes in ten years, with half slated for Auckland.

Free year of tertiary education - $2.6b

One of the Government's pricier pre-budget promises allows approximately 800,000 students a free first year of tertiary education, along with a $50 increase to weekly living costs available to around 130,000 students.

Provincial Growth Fund -  $3b

One of Labour's flagship policies heading into the budget, the Provincial Growth Fund aims to boost regional economies and help New Zealand combat climate change. This figure includes $180m for the one billion tree planting programme, and the money is being rolled out over three years.

Boost to NZ overseas aid - $714.2m

Labour has pledged to expand New Zealand's Official Development Assistance by $714.2m over four years.  

Budget 2018: What we know already

Ministry of Foreign Affairs and Trade - $190.7m

The Ministry of Trade and Foreign affairs is receiving $150.4m operational expenditure and an additional $40.3m in capital expenditure over the next four years. The Government says this will allow for an additional 50 foreign policy positions and the reopening of an embassy in Stockholm, Sweden.

Social Housing - $100m

The Government has pledged $37m to "urgently increase housing supply this winter" and promised 1,500 additional transitional, public and Housing First places by the end of winter. It also allocated $63.4m to boost Housing First services for more than 1,450 households over the next four years.

Conservation - $81.3m

An extra $81.3m in operating funds has been promised for predator control over the next four years. Labour says this will enable the Department of Conservation to undertake sustained predator control over more than 1.8 million hectares.

Family Violence Services - $76.2m

Ministry of Social Development-funded family violence services are getting an additional $76.2m over four years with the money divided among around 150 services nationwide.

Disability system trial - $23m

The Government announced in April that it is trialling a new system for delivering disability support, starting on October 1 2018.

Budget 2018: What we know already
Photo credit: Getty.

Early childhood education - $21m

On Sunday the Government announced a funding increase to support young children with learning difficulties. The Prime Minister said the money is "to ensure nearly 8000 more children will receive extra support over the next four years". Early intervention services will also receive an extra $272,000 capital to support the IT costs of additional staff.

Teacher support - $9.5m

Education Minister Chris Hipkins announced a $9.5m teacher supply package back in December 2017 to address the critical teacher shortage. This number is expected to rise today.

Funding for 'Growing Up in New Zealand' study: $1.9m

Social Development Carmel Sepuloni announced on Tuesday the Government will restore more than $1.9m of funding to the Growing Up in New Zealand study.

Join us for Newshub Nation's Budget special from 2pm on Three and Radio Live. We'll be hearing from Finance Minister Grant Robertson, National's Amy Adams and the Greens' James Shaw, as well as breaking down all the numbers with an expert panel of guests.

Newshub Nation.