New Zealand prime minister says government will boost net capital allowance in budget
WELLINGTON, May 8 (Reuters) - New Zealand Prime Minister Christopher Luxon said on Thursday the government plans to increase total capital expenditure allocated in its upcoming budget, boosting investment in health, education, defence and transport portfolios.
"The net capital allowance is NZ$4 billion ($2.38 billion) compared to NZ$3.6 billion previously signalled in the Budget Policy Statement," Luxon said in a speech to BusinessNZ in Auckland.
The government budget is scheduled for release on May 22.
Last week, Finance Minister Nicola Willis said baseline spending in the budget would be reduced to NZ$1.3 billion from a forecast of NZ$2.4 billion.
($1 = 1.6829 New Zealand dollars)
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