Government budget for fiscal year 2022/23
Budget 2022, dubbed the Wellbeing Budget 2022, is the New Zealand budget for fiscal year 2022/23, presented to the House of Representatives by Finance Minister, Grant Robertson, on 19 May 2022 as the fifth budget presented by the Sixth Labour Government. This budget was released in the midst of socio-economic impacts of the widespread community transmission of the SARS-CoV-2 Omicron variant, rising living costs, and the 2022 Russian invasion of Ukraine.[1][2]
Reactions
Political reactions
National Party and Leader of the Opposition Christopher Luxon described the Labour Government's budget as the "backward budget," claiming that it failed to address New Zealand's high cost of living.[9]
Green Party co-leader James Shaw praised the 2022 Budget for addressing issues of concern to the Greens such as climate change mitigation, family and sexual violence. By contrast, fellow co-leader Marama Davidson criticised the Budget for not helping low-income families sufficiently.[9]
ACT Party leader David Seymour described the 2022 Budget as a "brain drain" budget and argued that it failed to address New Zealand's rising inflation. Seymour advocated reducing government spending and taxation.[9]
Māori Party co-leader Rawiri Waititi criticised the 2022 Budget for not allocating enough money to the Māori community. He advocated removing food items from the Goods and Services Tax (GST) and taxing the owners of empty houses.[9]
Treasury's advice
On 20 May 2022, the New Zealand media reported that the New Zealand Treasury had advised against the Government's NZ$350 cost of living payment for middle-income New Zealanders on the grounds that it would cost short-term inflation. The Treasury had advised the Government to consider targeted support to low-income households.[10] Finance Minister Grant Robertson defended the Government's cost of living payment, arguing that it helped New Zealanders facing rising living costs.[11]
