Conclusion
Mr Speaker,
It is now almost four years since the collapse of Lehman Brothers, which set off the Global Financial Crisis and global recession.
Since then, we have witnessed significant disruption to economies around the world, and that is likely to continue for years to come.
The Euro area and the United Kingdom are going back into recession this year. The United States has low and uncertain growth.
By comparison, New Zealand is going through a moderate adjustment. We are avoiding the substantial cuts to public services and living standards that we are seeing in many other developed countries.
Our outlook is more positive than most. We are a food-producing economy on the doorstep of a rapidly growing middle class in the Asia-Pacific region.
Providing we stick to the Government's balanced and ongoing economic programme over the coming years, I am confident we will grasp these opportunities.
Mr Speaker,
Budget 2012 sets out the next steps in that programme.
It's about investing in our future.
It's about implementing the Government's plan to build opportunities for New Zealanders from all walks of life.
It's about returning to surplus in 2014/15, when we can start reducing debt brought on by the recession and the earthquakes.
We are building a more productive and competitive economy, where New Zealanders have the jobs, higher incomes, and opportunities to get ahead in their own country.
We are delivering better public services within tight financial constraints. And we are firmly focused on getting better results for New Zealanders and their families.
We are helping to rebuild Christchurch and standing beside the people of Canterbury.
New Zealanders have shown great resilience through challenging times. Budget 2012 supports their aspirations for a brighter future.
Mr Speaker,
I commend this Budget to the House.
