NZ Finance Minister introduces 2006 budget
Thursday, May 18, 2006
Today the New Zealand Finance Minister, Hon. Dr Michael Cullen, presented the 2006 New Zealand Budget to the House of Representatives. There is a NZ$8.5 billion OBERAC surplus and a NZ$1.5 billion cash surplus.
The budget allocates new operating spending of $9.6 billion and capital of $2.7 billion over the next four years.
Key issues in the budget includes:
- The Telecom New Zealand local loop unbundling (released earlier due to leak).
- $1.3 billion extra for transport.
- $3 billion extra for health care, over the next four years.
- $361 million extra for schooling
- $166 million extra for tertiary education and skill training
- $162 million extra for early childhood education
- National Business Review (NBR). "Full text of 2006 Budget Speech" — , May 18, 2006
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