The Government has revealed a Budget with $14 billion of tax cuts ranging from $4 - $40 a fortnight for all workers on more than $14,000. Income-earning Kiwis will get a tax cut from a $14.7 billion tax package in this year’s Budget. The already-announced changes to property taxes, a Working for families tax-credit adjustment, and FamilyBoost tax credit make up the rest. Last year’s Half-Year Economic and Fiscal Update forecast spending $27.7b in core health and disability services this Budget. “We regret that it hasn’t been possible in this Budget,” Willis said, saying the funding of specific pledges represented a challenge to Pharmac’s operating model.
