Budget 2022

NEW ZEALAND GOVERNMENT BUDGET 2022

Welcome to BDO’s 2022 Budget commentary.

Today’s Budget is the Government’s fourth wellbeing Budget, and has been an attempt to balance the short-term pressures caused by rising inflation with shielding the country from the long-term economic crises we know New Zealand will face if we do not act on climate change and health. This is a difficult task – and we know Government expenditure is necessary across many areas of New Zealand’s economy to achieve a country that is resilient to the pressures of the future. However, the enduring words of Jerry Maguire – ‘show me the money!’ - come to mind.

We do not currently have the income to sustain the amount we are spending, and we must make sure Government expenditure is not going to lead to a country hamstrung by unsustainable debt in future. Yes spending is necessary, but the Government must spend in the right areas to ensure a long-term return on investment.

With inflation, supply chain challenges and skilled staff shortages continuing to bite hard in the business community, our coverage aims to help you understand exactly how this year’s Government Budget affects people like you; business owners and managers in the SME and mid-market.