Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

BUDGET 2003: Summary Sheet Highlights & Key Points

Highlights and key points

1. An operating balance, excluding revaluations and accounting changes, of just over $4 billion projected for 2002-03

2. Projected surpluses for the years ahead of $3.8 billion in 2003-04 and of $4.5 billion, $5.3 billion and $6.2 billion in subsequent years

3. Gross debt at lowest levels since data began in 1971 and forecast to continue to decline steadily as a proportion of GDP – from 27.3 per cent this year to 23 per cent in 2006-07

4. The budget brings ahead by one year the full contribution rate to the New Zealand Superannuation Fund with a $1.879 billion payment for 2003-04

5. An additional $140 million over four years, plus $12 million capital, for research, science and technology

6. $110 million over four years to respond to the sector taskforces on Biotechnology, Design, Screen Production and ICT

7. $73 million over four years to promote overseas trade

8. $1.84 million in 2003-04 and $960,000 a year thereafter for initiatives targeted at small and medium sized businesses

9. Total education spending increases by $393 million to $8.2 billion in 2003-04

10. Funding of $421 million next year for early childhood education – an increase of 8 per cent

11. $167 million over four years to provide an extra 774 primary and secondary teachers

12. $422 million over four years for tertiary students

13. $85 million dollars to raise to 150,000 the number of people in industry training during 2005

14. Total health spending rises $711 million next year to $9.6 billion

15. Another 318 new state houses above the 2393 already planned, plus a large modernisation programme for existing stock

16. $256 million package over the next four years to fight crime and the impacts of crime

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Veronika Meduna: The Kaikoura Rebuild

A Scoop Foundation Investigation

Friday will be a big day for people north of Kaikōura – and for hundreds of construction workers who are racing to reopen State Highway 1 in time for the holiday season.

By the afternoon, the South Island’s main transport corridor will be open to traffic again, more than a year after a magnitude 7.8 earthquake mangled bridges and tunnels, twisted rail tracks and buried sections of the road under massive landslides. More>>

 

BPS HYEFU WYSIWYG: Labour's Budget Plans, Families Package

“Today we are announcing the full details of the Government’s Families Package. This is paid for by rejecting National’s tax cuts and instead targeting spending at those who need it most. It will lift 88,000 children out of poverty by 2021." More>>

ALSO:

Gordon Campbell: On Defence Spending, Alabama, And Dolly Parton

The spending lavished on Defence projects to meet the risks that could maybe, possibly, theoretically face New Zealand in future is breath-taking, given how successive governments have been reluctant to spend even a fraction of those amounts on the nation’s actual social needs. More>>

ALSO:

Members' Bills: End Of Life Choice Bill Passes First Reading

The End of Life Choice Bill in the name of David Seymour has been sent to a select committee for consideration by 76 votes to 44. It is the third time Parliament has voted on the issue in recent decades and the first time such a Bill has made it over the first hurdle. More>>

ALSO:

State Sector: MPI Survives Defrag Of Portfolios

The Ministry for Primary Industries will not be split under the new government, but will instead serve as an overarching body for four portfolio-based entities focused on fisheries, forestry, biosecurity and food safety. More>>

ALSO:

Gordon Campbell: On Vulnerable Kids, RNZ Funding, And Poppy

The decision to remove the word ‘vulnerable’ from the Ministry for Vulnerable Children could well mark a whole shift in approach to the care of children in need... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages