Tom Rutherford - The week that was - 31 May

The Week That Was  - 31 MAY 2024

I’m so proud to be part of a Government that has delivered a budget for the SQUEEZED Middle.

Tax relief is here! Along with investment in infrastructure, health, education, law and order and more!

Here’s what you need to know at a glance:

Post Budget Lunch with Hon Nicola Willis

Don't forget about the post-budget lunch I'm hosting with Deputy Leader of the National Party and Minister of Finance, Hon Nicola Willis, on Tuesday 11 June, at 12.00pm.

At this post-budget lunch, Hon Nicola Willis will make a presentation about Budget 2024, outline our plans to strengthen the economy and deliver for New Zealanders and will be available to answer your questions.

You can purchase your tickets to come along here: Post Budget Lunch

What you need to know - in more detail

Budget 2024 delivers on National’s promises.

It stops wasteful government spending, invests in frontline services like healthcare, schools and the Police, and delivers tax relief to help hard working Kiwis with the cost of living.  

On 31 July this year, New Zealanders will experience tax relief for the first time in 14 years.

This relief is well overdue and will help hardworking Kiwis who have endured a prolonged cost of living crisis.

Our tax package targets relief to low and middle-income households. Families with young children are set to benefit most.

It gives average income households up to $102 a fortnight, plus FamilyBoost childcare payments of up to $150 per fortnight for eligible families.

A single person earning $55,000 a year will be better off by about $51 a fortnight.

Other examples include:

  • A working couple both earning $150,000 a year will be better off by around $80 per fortnight.
  • A single adult working 40 hours on the minimum wage will be better off by around $25 per fortnight.
  • A retired couple receiving superannuation will be better off by around $9 a fortnight, rising to around $18 in 2025, and around $26 in 2026.

Our tax package is funded through savings and new revenue measures meaning it will not add to Government debt.

You can find out exactly how much you will be getting back by going to the tax calculator at budget.govt.nz/taxcalculator

The Budget also delivers on National’s priorities of restoring law and order and delivering better public services.

We are investing $651 million over four years to deliver an extra 500 police officers and provide them with the tools they need to do their jobs.

We are also investing in more corrections staff, more prison capacity, military style academies for serious youth offenders, and support for offenders to turn their lives around.

We will deliver more doctors, more hospital and specialist services, more breast screening, more mental health services, and more medicines through our investment of $16 billion in Health across three Budgets.

We are also spending over $1 billion to ensure people with disabilities can access the essential services, equipment and support they need and $1.7 billion in Pharmac to fix the shortfall left by Labour and ensure Kiwis can access the medicines they need.

We will deliver more teachers, more support for teachers, more classrooms, funding for structured literacy, the healthy schools lunch programme and charter schools through our $2.9 billion investment in Education.

We cannot fix all New Zealand’s economic challenges in one go, but this Budget is a critical step in our plan to rebuild the economy.

We are proud that this Budget delivers on the core commitments we made to New Zealanders. By achieving savings, funding the frontline, and delivering tax relief we have done exactly what we said we would do.

Kicking Off!

I recently refereed a rugby fundraiser between Federated Farmers and the Parliamentary side at the Ngatapa Sports Club in Patutahi, Gisborne.

The match was raising funds to support farmers affected by Cyclone Gabrielle and over $300,000 was raised. The Parliamentary side came out victors winning 20-12 and luckily, I only had to give one yellow card!

After the match, our flight was cancelled, so we jumped on the bus to get home. It was all good though because it meant Hannah and I got 3 hours together - how’s that for quality time!

Where’s Tom??

I enjoyed meeting with the Mahy Learning Community at Golden Sands School, in Papamoa. They had all recently written me letters about the environment and wanting to have some soft plastic bins installed. Thanks for asking lots of questions and your local advocacy. We love to see it.

This week at a glance:

Investing in our teaching workforce.

Minister for Education Erica Stanford announced that Budget 2024 will invest in initiatives to support 1,500 teachers into the workforce and help give our kids a world-class education. We’re investing $52.625 million over four years to attract, train, and retain our valued teacher workforce.

The Resource Management (Freshwater and Other Matters) Amendment Bill.

The Government has introduced legislation to cut the red tape throttling our primary industries and help rebuild the economy. The bill proposes targeted changes that can take effect quickly and give certainty to applicants while new legislation is developed to replace the RMA.

New Zealand to support PNG landslide response.

New Zealand will support Papua New Guinea’s response to the devastating landslide in Enga Province, Foreign Minister Winston Peters and Defence Minister Judith Collins have announced. “Ever since learning of the horrendous landslide, New Zealand has been determined to play our part in assisting Papua New Guinea’s response,” Mr Peters says.

Super Fund to get more investment opportunities.

Finance Minister Nicola Willis has welcomed the passage of legislation giving the New Zealand Superannuation Fund a wider range of investment opportunities.

The New Zealand Superannuation and Retirement Income (Controlling Interests) Amendment Bill passed its third reading in Parliament. The Bill removes a section in the original act that prohibited the fund from taking a controlling interest in an entity.

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Hope you have a great weekend and if there is anything I can do to help - please give my office a call on 07 542 0505 or email me at [email protected]

Thanks,
Tom

Tom Rutherford
MP for Bay of Plenty

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