What you need to know about the budget

By: Christopher Luxon, Prime Minister and MP for Botany

Here’s what you need to know about Budget 2026. Despite global volatility, our economic plan is working and setting New Zealand up for a bright future. We are seeing solid growth, with 220,000 more jobs on the way and wages rising faster than prices – the key to making life more affordable for Kiwis.

This Budget is about securing New Zealand’s future in a more uncertain world. It is part of
National’s plan to fix the basics and build the future, with a clear focus on growing the economy, creating jobs, keeping taxes low, cracking down on crime, and improving education and healthcare.

We know we can’t tax, borrow, and spend our way to a brighter future. That approach leads to higher costs, fewer jobs, and stagnant wages. Instead, by stopping wasteful spending and making careful choices, we are keeping taxes low and getting the Government’s books back on track, with a return to surplus forecast in 2028/29 and $6 billion less borrowing than previously expected.

At the same time, we are continuing to invest in what matters most: roads, police, schools, and healthcare. We’re delivering that investment through savings, so Kiwis still get quality frontline services while we restore fiscal discipline.

The growing economy is set to create 220,000 new jobs over the next four years, with wages continuing to outstrip prices. That is how we ease cost-of-living pressure and give New Zealanders greater choice about what to do with their hard-earned money.

Ultimately, this Budget is about responsible economic management to secure New Zealand’s future. It’s part of National’s plan to fix the basics and build the future – delivering jobs, opportunities, and higher wages for hardworking Kiwis, no matter what challenges the global environment may bring.