PM Christopher Luxon gives pre-budget speech to BusinessNZ | RNZ

Capital expenditure - new money set aside in the Budget to maintain or upgrade assets - will be higher than originally forecast when the government delivers its Budget in two weeks' time | Subscribe: https://www.youtube.com/RNZVideo?sub_... In a speech to Business New Zealand on Thursday, the prime minister said the money, which would be split mostly across health, education, defence, and transport, will total $6.8 billion. It means the net capital allowance, once savings identified in the Budget have been accounted for, will increase from the $3.6b previously signalled, to $4b. Last week Finance Minister Nicola Willis cut the operating allowance by half to $1.3b. Christopher Luxon told the business audience the smaller operating allowance was the "right call because keeping our word matters".