Spend today, save tomorrow: Budget 2026 promises restraint, eventually

The New Zealand Taxpayers’ Union is cautiously welcoming the announcement of Budget 2026, with a surplus now expected this decade – but warning that it’s based on seriously optimistic assumptions.

Commenting from within the Budget briefing, Taxpayers’ Union Executive Director Jordan Williams said:

“This is clearly an election year budget. Despite the claims from the Finance Minister that it isn’t a ‘sugar hit’, Treasury’s fiscal analysis shows that this Budget is expansionary today, contractionary tomorrow.”

“’Spend today, save tomorrow’ is what New Zealanders have had every year since COVID. Even now, the vast majority of ‘savings’ coming later in the forecast period. Minister Willis is relying on everything going well between now and then, at home and overseas.”

“Minister Willis has said all the right things – now it’s on her to deliver them."