The big story this week is Finance Minister Nicola Willis' first budget. 



In her speech to parliament, she first highlighted the significant fiscal challenges New Zealand faces.


The current economic downturn started earlier, is deeper and will last longer than previously acknowledged. Unemployment is expected to peak towards the end of 2024 beginning of 2025. The Government revenue is 18.5 billion lower than expected.



To address this the Government has chosen to manage spending and aims to return New Zealand to Surplus in the 2027 - 2028 financial year.



The Budget focused on providing relief to the squeezed middle and I have put a link to the Tax Relief Calculator below.



For us the Budget confirms $2.68 Billion with the funding for the Roads of National and Regional Significance receiving an extra $1 billion to accelerate delivery.



Transport Minister Simeon Brown's press release is attached.


Calculate Your Tax Relief

This week James attended the second monthly policy workshop with the NZ Transport Agency and Ministry of Transport. 



As you know, we’re initially focussing VDAM and driver licensing, before moving to fatigue and TSLs. VDAM is the first cab off the rank and we covered a fair bit of ground, from permitting for 23m/50MAX, H plates and maximum width and height requirements.



Both industry and the NZTA now have to deliver a bunch of actions on these areas before next month’s meeting. We need to paint a strong, reasoned case for change, so we’re going back through the books to find the reasons behind everything.



What seem like pretty basic questions actually cut pretty deep, it’s not quite philosophy, but it’s close! Essentially, to get things changed we have to take them back to fundamentals e.g. - 'why has this thing been put into law?’ ‘What would happen if it wasn’t there?’.



It’s not as easy as it looks but we’re making good progress and will update you again after June’s session.

Justin Tighe-Umbers, CEO, National Road Carriers Assn