December 23rd, 2024
New Zealand's Prime Minister Chris Hipkins has acknowledged the hardships faced by many New Zealanders in recent years, including severe weather events and the ongoing challenges from the COVID-19 pandemic. The Prime Minister on 3 April emphasised the importance of supporting those struggling with the cost of living, stating that it was a primary focus upon taking office.
To help over a million New Zealanders, including families, seniors, caregivers, students, and workers, the government is rolling out further cost of living support. Approximately 880,000 people will receive an increase in Superannuation, benefiting 5,000 veterans, and over 50,000 students will see a rise in allowance or loan living costs.
More than half of New Zealand families with children will now qualify for subsidised childcare assistance, enabling more parents to afford childcare and before and after school care. Additionally, 345,000 families, encompassing 646,000 children, will benefit from Working for Families Tax Credits.
A couple with children receiving a main benefit will now be better off by an average of $256 per week compared to 2017, while a sole parent will be better off by $180 per week.
Approximately 223,000 workers will see a wage increase due to the minimum wage rising to $22.70. Nurses in various healthcare sectors will also receive up to 15 percent more in their take-home pay following the nurses pay agreement.
Temporary and targeted cost of living payments, fuel tax cuts, and half-price public transport fares have been implemented to help ease inflationary effects from the Ukraine war and supply chain disruptions.
The Prime Minister acknowledged that while these changes won't solve everything, they will help alleviate some pressure. Further support, such as the annual Winter Energy Payment, will restart from 1 May, assisting more than a million people with the cost of energy bills during the colder months.
The government's top priority is to support New Zealanders with cost pressures as they face global challenges and the impact of the recent cyclone and floods. The Prime Minister reaffirmed the government's commitment to working hard to provide support for families, lift incomes, and tackle the structural causes of inflation, ensuring that everyone in the country can get ahead and create a better life for themselves and their families.