2009 Budget

The Government was prepared to play its part in building national savings and reducing the reliance on foreign debt, Finance Minister Bill English said yesterday.

New Zealand's $12.5 billion superannuation Cullen Fund should be scrapped and the age of entitlement raised, economist and commentator Dr Gareth Morgan believes.

Finance Minister Bill English yesterday delivered a Budget for the times, one that struck a balance between delivering support to the economy and being responsible about long-term expenses and debt.

Finance Minister Bill English achieved something that seemed almost impossible a month or so ago in having the country's credit ratings maintained near the top of the range.

Saving and supporting jobs during the recession appeared top of the list for Finance Minister Bill English when he released his first Budget of the new National-led administration yesterday.

Many in Otago's education sector have welcomed the 2009 Budget, but it has also been labelled "underwhelming".

After an anxious few months, Dunedin scientists are welcoming confirmation of Government funding for a new collaborative genomics facility.

The Government is committed to maintaining New Zealand Superannuation entitlements at their current level but will need to explain how it intends funding them.

Otago District Health Board chairman Erroll Millar says he is "enormously grateful" for the level of health funding announced in yesterday's Budget, which amounted to 40% of new Government spending.

New Zealand's public sector has a large role to play in the recovery of the economy from recession and Finance Minister Bill English made it clear yesterday that hard work already started needed to continue.