Everybody was disappointed with the Coalition’s first budget

Tax cuts were delivered almost exactly as promised during the election campaign. She added $3.2 billion of new spending in Budget 2024 but will only add $2.4 billion in each subsequent one. “We wouldn't have done tax cuts, because it just wasn't worth it in the current economic environment,” Edmonds said. Labour leader Chris Hipkins said any small benefit New Zealanders received from the income tax cuts would be consumed by other costs which would go up. It’s not the tax cuts per se but the fact that the fiscal impulse is larger,” he said in a note.