The New Zealand budget for fiscal year 2009-2010 was presented to the

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on 28 May 2009. This was the first budget Bill English has presented as Minister of Finance.

Outline

The fifth National Government's first Budget was delivered with the

New Zealand economy The economy of New Zealand is a highly developed free-market economy. It is the 51st-largest national economy in the world when measured by nominal gross domestic product (GDP) and the 63rd-largest in the world when measured by purchasing p ...

in recession from the last quarter of 2007, and a

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and rising national debt. The 2009 Budget included new spending of $5.8 billion to "help maintain economic activity and to support jobs". New spending included a home insulation and clean heating campaign, infrastructure investment and a national cycleway network. The Budget confirmed 2009 tax cuts but deferred the second and third tranches of planned tax cuts in 2010 and 2011 as "unaffordable". Automatic contributions to the New Zealand Super Fund were suspended. $2 billion of planned spending by the previous Government's was reprioritised. Budget 2009 forecast gross debt to peak at 43% of GDP in 2016/17.

References

{{DEFAULTSORT:2009 New Zealand Budget Budget, 2009 New Zealand budgets

New Zealand Budget The New Zealand Budget is an annual statement by the New Zealand Government that outlines of the nation's revenues and expenditures for the preceding fiscal year and expectations for the next one. It is prepared by the New Zealand Treasury for the ...

May 2009 events in New Zealand