Nicola Willis
speaker
1,507 appearances
29 recordings
3 series
first heard Apr 2026
last heard 2d ago
Nicola Willis’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 29 in all, peaking in Jul 2026 with 7.
Appearances
fuel prices uh arising from the uh conflict in the Middle East and to offset the costs of not increasing petrol tax next year, we're going to use that fund.
We are also going to uh have to use general revenue to top up the land transport fund next year, uh, which will would is cash that would otherwise be available for debt reduction or operating allowances.
So
This does come with a bill, it does come with a cost, there's no question about that.
The judgment that Cabinet has made is that the first of January next year will not be the right time for a big hike in petrol taxes.
But at the same time, we have to get the land transport system back onto a sustainable user pay system.
So that's why we will be increasing petrol taxes in future years, doing that in a phase
Well, you're right that that is cash that would otherwise have been available for debt reduction or operating allowances.
What I've done is looked at the forecast projections for the next few years.
And based on the preliminary forecasts that I'm receiving in the lead up to the pre election update, I'm confident that we can find that cash from the bottom line and also stay on track for our fiscal strategy, which has those
three key goals returning to surplus in the twenty eight, twenty nine fiscal year, getting the debt curve bending down, and ensuring that we're reducing overall crown spending towards thirty percent of GDP over time.
Time.
So nice and clear those were the three tests for me.
Well, it is the case that we are forecasting borrowing over the next couple of years.
No, no, no.
No more borrowing
Yes, this will not add to the debt project projections that I presented to you at the budget update, although I just want to be clear that that is one point four billion dollars that would have otherwise been available for additional debt reduction or for adding to future operating allowances.
So it does come with a cost and I just want to be upfront about that.
Uh but we've judged that that is the right thing to do because we don't
Want to lift New Zealanders petrol taxes on the first of January next year.
Showing 421–440 of 1,507 · page 22 of 76
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