Ten things you need to know about the Budget

The 10 key things you need to know out of today's Budget announcement.

• A $790 million child hardship package which includes a $25 increase in core benefits for beneficiaries with children; minor adjustments up and down in Working for Families payments depending on income.

• Increased obligations on beneficiaries regarding finding part-time work.

• Budget deficit of $684 million this financial year, turning into a $176 million surplus in 2015/16.

• Economic growth to average nearly 3 percent over the next four years.

• Unemployment expected to fall below 5 percent next ear.

• The prospect of "modest" tax cuts in 2017 - election year.

• A $52 million "contingency fund" to speed the building of houses on crown-owned land in Auckland.

• The wiping of the $1000 kick-start contribution on signing up to Kiwisaver.

• A new "border clearance levy" for arriving and departing passengers of $16 and $6 respectively.

• A $20 million increase in the budgets of both the Security Intelligence Service and the Government Communications Security Bureau.

 

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