Budget 2025 Saves To Invest In What Matters
"ACT has ensured Budget 2025 saves money to invest in essential services and support economic growth," says ACT Leader David Seymour.
"ACT would support leaner spending still, but our influence has ensured this Budget grows government at less than half the rate of inflation. When the government's share of spending reduces, there is more left for everyone else, and future generations aren't irresponsibly saddled with debt.
"Above all, this is a Budget that understands wage growth doesn't come from the bureaucracy or court cases – it comes from economic growth.
"The Regulatory Standards Bill is part of the Budget package. It will make government justify regulating the use and exchange of your property, or be called out. It means Kiwis spend less time on paperwork and are freed up to innovate, hire, and generate real wealth.
"A 20 percent capital expensing policy will let businesses immediately deduct 20 percent of the cost of new equipment, machinery, or tech in the year of purchase. This puts more cash back in the hands of firms and farms right away – to invest in growth, upgrade tech, and boost productivity. Whatever you're trying to do, this policy will reduce the tax drag on investing to increase productivity and wages. Treasury forecasts that, by the time the youngest Kiwis today enter the workforce, wages will be 1.5 per cent higher thanks to this policy alone.
"Meanwhile, billions in savings have come from Brooke van Velden's reforms to ensure pay equity claims are fair and evidence-based. There are not only fiscal savings from the pay equity changes, there is a proud declaration that we don't get wealthier arguing with ourselves, we get wealthier from investment, innovation, and genuine hard work.
"Brooke van Velden's work, along with smaller savings throughout the Budget, has made investment in basic services possible. A significant uplift in Defence capability, better attendance services, after-hours healthcare, faster courts, stronger youth justice facilities, and a shift from three-month to twelve-month prescriptions, have all been made possible.
"Of course there are many other savings. The reduction in RNZ funding should focus the organisation on high-quality news, the way its competitors are forced to do in challenging times for the industry.
"In cutting waste and prioritising spending to enable growth, Budget 2025 does not go as far as ACT would like – but it does go further than it would without ACT."
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