WELLINGTON, Jan. 31 (Xinhua) -- New Zealand's Budget 2018 will be delivered on May 17, which will build on the priorities outlined in the December 2017 Budget Policy Statement (BPS) that set out the government's economic strategy, Finance Minister Grant Robertson said on Wednesday.
"Work is already well under-way in bringing together the various budget bids from ministers to support the government's priorities for the next three years," Robertson said in a statement.
Budget 2018 will make progress on a wide range of priorities, including building quality public services and improving access to core services such as health and education, taking action on child poverty and homelessness, supporting families to get ahead and sharing the wealth generated by the economy with a wide range of New Zealanders, and climate change, he said.
The government's Budget Responsibility Rules ensures net debt falls to 20 percent of GDP within five years of taking office, expenditure is controlled, and surpluses are delivered across the economic cycle, the minister said.
"Budget 2018 will be a turning point for New Zealand, with policies designed to help close the social and infrastructure deficits which emerged in recent years," he said.
The government will make sure it properly funds essential public services like health and education, while boosting regional economic development, skills training, and putting the settings in place for New Zealand's economy to transition to being "more productive, sustainable and inclusive," Robertson said.
