December 4th, 2024
In a significant move to alleviate the financial strain on its citizens, the government has announced an increase in government assistance for more than 1.4 million New Zealanders starting from April 1, an official media release said on Thursday.
This initiative, spearheaded by Social Development and Employment Minister Louise Upston, aims to provide relief to a broad section of society, including pensioners, working-age beneficiaries, and students, amidst the ongoing cost of living crisis.
The big picture: Over a quarter of New Zealand's population is set to benefit from this increased government assistance, highlighting the coalition Government's commitment to supporting Kiwi families during these economically challenging times. Minister Upston emphasised the government's focus on aiding those on low-to-middle incomes who are most affected by the high cost of living.
Zoom in: Key details of the assistance package include:
A significant boost to the Superannuation payments for 909,000 pensioners, including 5,000 veterans.
Increased payments for 371,000 working-age beneficiaries.
An uplift in student allowances for 45,000 students.
What they're saying: Minister Upston stated that "the coalition Government is relentlessly focused on helping Kiwi families deal with the high cost of living we inherited from the last government. ... Every little bit counts, and this Government is committed to supporting those who are really feeling the pinch from the high cost of living."
Details: Specific increases outlined include:
Jobseeker Support for a couple with children will increase by $56.48 fortnightly.
Sole Parent benefits will see a rise of $44.02 per fortnight.
Pensioners will receive an increase of $71.08 per fortnight for couples and $46.20 for single superannuitants living alone.
Student allowances for under-24s living away from home will increase by $27.94 fortnightly.
Childcare assistance rates are set to rise, benefitting around 25,000 children, with the maximum weekly rate increasing from $305 to $319.
The bottom line: This comprehensive package of cost of living adjustments is a testament to the New Zealand government's dedication to providing timely and effective support to those most in need, ensuring a wider segment of the population can navigate the current economic challenges with increased financial stability.