The system means the current National Government is actually still operating with the multi-year health budget set by Labour. This means Budget 2026 could feature far more proscriptive budgeting for health, and a return to the old year-by-year funding model. Willis said the Government would still increase health funding every year. “They are a tool that puts the focus on medium-term sustainability, rather than on annual Budget initiatives,” Willis said in her Budget Policy Statement in December. “We will, at Budget, have an energy package which demonstrates our fiscal and regulatory commitment to affordable energy and electricity,” Willis said.

Source: New Zealand Herald January 16, 2026 20:30 UTC