The benefits of a sustainable growing economy are real
National has worked hard to steer the country through the recession, the global financial crisis, and the aftermath of a very destructive and expensive natural disaster. We made a promise to responsibly manage the Government’s finances, and bring the books back into surplus. We’re on track to do this.
Budget 2014 will be about thoughtful targeted spending, not a spend-up.
We’ve outlined that our investment focus will be on the areas that matter most to families – better healthcare, more effective education, safer communities, and less welfare dependency.
We’ll be sticking to the $1 billion Budget allowance for the 2014/15 financial year – because this is the responsible thing to do.
When we talk about the economy – about things like GDP and the balance of payments – we’re ultimately talking about people’s jobs, wages, and the costs we all face in going about our daily lives and raising our families.
Everyone’s circumstances are different and we know some people are still finding it challenging, but the benefits of a sustainable growing economy are real and therefore meaningful for hard-working New Zealanders.
Over the past two years we’ve seen a $3,000 lift in the average wage to $54,700 a year.
The average annual wage is expected to increase by $7,500 to around $62,200 a year by 2018 if New Zealand grows, as it is predicted to, over the next four years.
Treasury expects the economy to grow between 2 - 4 per cent a year to 2018. It’s forecasting that during 2012 – 2018 the average wage will go up $10,500, or around 20 per cent, compared to inflation of around 12 per cent over the same period.
These forecasts also show around 170,000 more people will be working by 2018. Together with a falling unemployment rate this will build on the 66,000 jobs created in the past year alone.
National will continue to keep government spending under control over coming years to avoid the Reserve Bank reacting by further tightening monetary policy and pushing up interest rates. By helping to restrict interest rate increases, we can make a significant contribution to family budgets.
Interest rates are currently at a 50 year low. Every one percentage point movement in mortgage interest rates is worth around $40 a week – or $2,000 a year – for a family with a $200,000 mortgage.
So when you hear politicians promising to ramp up spending to pay for expensive election promises, you should remember this would come at a significant cost to New Zealand households and businesses.
National has worked hard to steer the country through the recession, the global financial crisis, and the aftermath of a very destructive and expensive natural disaster. We made a promise to responsibly manage the Government’s finances, and bring the books back into surplus. We’re on track to do...
National has worked hard to steer the country through the recession, the global financial crisis, and the aftermath of a very destructive and expensive natural disaster. We made a promise to responsibly manage the Government’s finances, and bring the books back into surplus. We’re on track to do this.
Budget 2014 will be about thoughtful targeted spending, not a spend-up.
We’ve outlined that our investment focus will be on the areas that matter most to families – better healthcare, more effective education, safer communities, and less welfare dependency.
We’ll be sticking to the $1 billion Budget allowance for the 2014/15 financial year – because this is the responsible thing to do.
When we talk about the economy – about things like GDP and the balance of payments – we’re ultimately talking about people’s jobs, wages, and the costs we all face in going about our daily lives and raising our families.
Everyone’s circumstances are different and we know some people are still finding it challenging, but the benefits of a sustainable growing economy are real and therefore meaningful for hard-working New Zealanders.
Over the past two years we’ve seen a $3,000 lift in the average wage to $54,700 a year.
The average annual wage is expected to increase by $7,500 to around $62,200 a year by 2018 if New Zealand grows, as it is predicted to, over the next four years.
Treasury expects the economy to grow between 2 - 4 per cent a year to 2018. It’s forecasting that during 2012 – 2018 the average wage will go up $10,500, or around 20 per cent, compared to inflation of around 12 per cent over the same period.
These forecasts also show around 170,000 more people will be working by 2018. Together with a falling unemployment rate this will build on the 66,000 jobs created in the past year alone.
National will continue to keep government spending under control over coming years to avoid the Reserve Bank reacting by further tightening monetary policy and pushing up interest rates. By helping to restrict interest rate increases, we can make a significant contribution to family budgets.
Interest rates are currently at a 50 year low. Every one percentage point movement in mortgage interest rates is worth around $40 a week – or $2,000 a year – for a family with a $200,000 mortgage.
So when you hear politicians promising to ramp up spending to pay for expensive election promises, you should remember this would come at a significant cost to New Zealand households and businesses.
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