After years of growing surpluses, the sharp downturn in the near-term economic outlook means the Government's coffers look much less healthy than in December.
That will constrain Dr Cullen's biggest potential election trump card of immediate and meaningful income tax cuts.
Outside of tax cuts, there will be the usual array of policy announcements around the economy, health, education, families and community and the environment.
As in past years, the Government has made several early announcements so the general theme of the budget will not get lost in the larger packages.
Announcements made so far include:
- $36 million announced yesterday to develop coastal shipping over next four years.
- $12 million announced yesterday to support community and government biodiversity partnerships, and research into the conservation impacts of climate change and carbon storage.
- $750 million in new health spending (includes first year of $160 million announced last weekend for elective services).
- $700 million for Fast Forward Fund investing in food and pastoral sector research.
- $665 million to buy the national rail operations.
- $621 million over five years to boost Ministry of Foreign Affairs and Trade.
- $446 million over four years to boost funding for community organisations.
- $251.9 million in total over four years on revamp of Mt Eden Prison.
- $164.2 million over five years for a cervical cancer immunisation programme.
- $150 million a year on educational changes to keep young people in school or training until they are 18.
- $72.1 million over 10 years to clean up Rotorua lakes.
- $46.5 million over four years to providers of home-based support for injured people.
- $35 million for a shared-equity pilot scheme for home buyers.
- $33.5 million over four years for Canterbury transport.
- $22.4 million over four years for state house insulation.
- $13 million to upgrade flood protection in Milford Sound.
- $9 million over three years to lift horse-racing prizemoney purses.
- $8.8 million over four years to develop and maintain an electronic medicines reference book.
- $8.4 million over two years for Search and Rescue.
- $1 million to the newly established Rutherford Foundation.
- $840,000 to help tourism businesses improve environmental sustainability.
- $600,000 over four years to fund a new European Union/New Zealand exchange programme.
Running total: $4.01 billion
