WELLINGTON, May 14 (NNN-XINHUA) – The New Zealand government, today unveiled a one-billion-New Zealand dollar budget package, that focuses on the flood and cyclone recovery in the country.
The recovery package is part of Budget 2023, which covers the basics of rebuilding roads, rail and schools, while preparing for future events with investments in flood protection measures.
Prime Minister, Chris Hipkins, made the pre-Budget announcement with Cabinet Ministers, today in Hawk’s Bay, which was severely hit by the Cyclone Gabrielle in Feb.
“The recovery package responds to the immediate recovery needs of today and invests in greater resilience for tomorrow,” said Hipkins.
“These investments will help ease the pressure on local communities, already struggling with the cost of living, from having to foot the full recovery bill,” said the prime minister.
The cyclone and floods killed 11 people and resulted in huge damage in early 2023, with the Treasury estimating a loss from nine billion to 14.5 billion New Zealand dollars, second only after the Canterbury earthquakes, in terms of damage from natural disasters New Zealand has faced.
“Cyclone Gabrielle hit the country when the Budget 2023 process was relatively advanced. As a result, we made the call that the response would be prioritised over other initiatives, which were in the draft Budget package at the time,” said Finance Minister, Grant Robertson.
“This package is significant but is not the end of our support to weather affected regions, as we continue to work alongside them on their road to recovery,” said Robertson.
The New Zealand government is due to announce its annual Budget on May 18.
Budget 2023 is expected to focus on the cost of living and cyclone and flooding recovery. In 2019, the New Zealand government announced its inaugural Wellbeing Budget, signalling a significant departure from just relying on GDP in the Budget planning. (1 New Zealand dollar equals 0.628 U.S. dollars)– NNN-XINHUA
