Major changes announced in Budget 2025

Thursday 22 May 2025 · 4 outlets · 5 reports · updated Thu 22 May 2025, 7:33pm

In this story Nicola Willis

Finance Minister Nicola Willis has released the 2025 Budget, which includes a $6.6 billion tax change intended to stimulate economic growth. The Budget features KiwiSaver adjustments, such as halving government contributions, and will result in an effective marginal tax rate increase for approximately 180,000 families.

How they headlined it

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1. StuffThu 22 May 2025, 3:21pm

   Budget 2025: Winners and Losers (opens in new tab)

   • Budget 2025: The KiwiSaver changes, explained (opens in new tab) Thu 22 May 2025, 5:57pm
2. The Press via The PostThu 22 May 2025, 5:04pm

   Winners and losers of Budget 2025: Economists give their verdict (opens in new tab)

3. RNZThu 22 May 2025, 6:18pm

   Budget 2025 at a glance: The big changes, winners and losers (opens in new tab)

4. NZ HeraldThu 22 May 2025, 7:33pm

   Budget 2025: Budget-night papers reveal effective 0.5% tax hike on 180,000 families, KiwiSaver changes may undermine growth agenda (opens in new tab)