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BUDGET BOOST FOR FAMILIES By Lawrence JohnstonMEASURES aimed at encouraging saving and investment, and boosting health, education and crime prevention are contained in the Budget announced last month. There are also climate change measures - notably to encourage greater use of public transport - and other measures to promote New Zealand's national identity. Among measures to boost the economy, is investment to support the construction of state highways. There are also regional fuel taxes to improve the ability of regions to fund priority investments. NZ$600 million will be invested over six years for the government's contribution to urban rail development projects in Auckland and Wellington and NZ$50 million for general track improvements to the national rail network. The government sees these infrastructure investments as vital to developing a more sustainable transport network and underscore its commitment to ensure New Zealand deals with the challenge of climate change. There is NZ$3.4 billion over four years via a package of measures designed to encourage greater business investment and improve competitiveness. A lower company tax rate, tax credits for research and development, and proposed international tax rules, are designed to encourage investment in innovation and expansion both in New Zealand and abroad. Exporters also win further market assistance. Mindful of how critical a highly skilled workforce is to increasing productivity, in the Budget, Finance Minister Dr Michael Cullen has expanded support for industry training and provided greater funding for tertiary institutions to ensure they produce more of the right mix of skilled graduates. The biggest investment in the interests of the family, is in health, with NZ$11.9 billion to be spent in the sector in total this coming year, which is NZ$5.5 billion more than in 2000/01. This will build on Labour's drive to boost access to Primary Health Organisations, with the final roll out of cheaper doctor visits for the 45 to 64 age group from July 1. Working for Families - which aims to help families that need it most, make ends meet, is now available to some three quarters of all families, after the final roll out on April 1 of an increase in the tax credit of NZ$10 per child. In a bid to make New Zealand a better place to live and work, the government introduced four weeks annual leave on April 1 and again increased the minimum wage. The Budget also aims to create strong and safe communities for the family with help for community organisations and youth offender programmes. Funding is also being provided for the second tranche of an additional 1,000 frontline police officers already announced. For older New Zealanders there is an increase in superannuation payments and extra help for residential care and care at home. |
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