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Budget 2024 live: What time is Nicola Willis’ budget speech? Release time and other information.

Finance Minister Nicola Willis will today reveal the final shape of the tax cuts promised to New Zealanders in the Budget, as well as how the Government will pay for them.

Willis will reveal the contents of the budget in Parliament at 2:00 p.m.

It will coincide with a protest, organized with the help of Te Pāti Māori, which will arrive at Parliament after midday as the budget blockade takes place.

Extra police have been called into Parliament to monitor it and Police Minister Mark Mitchell said he hoped police in other major centers would ensure protest actions were legal and did not disturb people too much.

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That “National Activation Day” follows a hui held earlier this year, which criticized the Government’s policies relating to Māori.

Major protests were planned in Auckland, Wellington, Hamilton and Christchurch and smaller scale protests were planned in the rest of the country.

Willis revealed the cover of the Budget yesterday, but remained tight-lipped about its contents.

There have been some pre-budget announcements in areas such as education, housing, corrections and pharmaceuticals, and Willis and Premier Christopher Luxon have said it would include spending increases on health, education and law enforcement.

The Budget will also show the full extent of spending cuts facing government departments and how much of them have been redirected to frontline services.

Willis has said it has been discovered that around 240 areas of cuts would free up money to pay for tax cuts and other measures, and that almost 5,000 jobs would be eliminated.

However, the biggest focus of the day will be on the tax cuts.

Willis has said they would be aimed at low and middle income earners, but repeatedly refused to confirm whether they were the same as National promised during the election campaign.

Labor Party leader Chris Hipkins questions whether National will meet its pre-election tax commitments.  Photo / Mark Mitchell
Labor Party leader Chris Hipkins questions whether National will meet its pre-election tax commitments. Photo / Mark Mitchell

Opposition parties have attacked the planned tax cuts, questioning whether they are affordable and the cuts needed to pay for them.

Willis promised before the Budget that the Treasury considered the tax cuts to be fiscally neutral, meaning that anything they cost the Crown would be offset by spending cuts and revenue increases elsewhere, and that this style of cutting tax would not be inflationary.

National’s campaign tax plan promised they would kick in on July 1 this year, with middle-income New Zealanders receiving between $17.50 and $25.50 a fortnight in a combination of cuts and tax credits.

Yesterday, Labor leader Chris Hipkins took aim at National’s approach to the Budget, saying people would know today whether it was delivering on its promises or not.

An enthusiastic Luxon responded to Hipkins in question time, saying that Labor had presided over recessions, high inflation and soaring public spending: “And you have the audacity to ask me economic questions. Give me a break.”

Te Pāti Māori co-directors Debbie Ngarewa-Packer (left) and Rawiri Waititi (right) will play central roles in today's protest action.  Photo / Mark Mitchell
Te Pāti Māori co-directors Debbie Ngarewa-Packer (left) and Rawiri Waititi (right) will play central roles in today’s protest action. Photo / Mark Mitchell

Te Pāti Māori co-leader Rawiri Waititi described it as a “Pākehā Budget that delivered… for their Pākehā economy”, but was hopeful it would deliver for Māori. Luxon has said this week that his budget would support Māori and non-Māori.

Much of Waititi’s attention would be on the protest outside Parliament in the afternoon, which his party has widely promoted.

“We’re looking forward to an incredible, positive, action-reaction day,” he said.

Green Party co-leader Marama Davidson said she was unlikely to be impressed by today’s budget.

“I think they have made it clear that they are the most anti-Māori, anti-Tiriti government I have ever seen… I won’t be at all surprised if there isn’t adequate (e.g. Māori) specific funding.

“We’ve had some pretty clear indicators that they’re not here to protect people, to protect communities, to protect those who do hard things for our planet.”

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