Budget 2026: Here’s what we know is in the Budget and what we think is likely to come

PremiumAnalysisAnalysis byThomas CoughlanPolitical Editor·NZ Herald·27 May, 2026 05:00 PM6 mins to readThomas Coughlan, Political Editor at the New Zealand Herald, loves applying a political lens to people's stories and explaining the way things like transport and finance touch our lives. ‌Finance Minister Nicola Willis and Associate Finance Ministers Chris Bishop (left), David Seymour and Shane Jones with copies of Budget 2026, the details of which will be revealed at 2pm today. Photo / Mark MitchellTHE FACTSFinance Minister Nicola Willis has cut her operating allowance by $300m. The Government has announced more than $6 billion in pre-Budget spending (mainly because of a healthcare announcement from 2024). The Budget will be published at 2pm today. The big question hanging over Finance Minister Nicola Willis’ Budget, which will be revealed at 2pm today, isn’t so much what’s in it, but how it fits together.

The Government’s fiscal strategy is boxed in by two goals: returning to surplus is one and maintaining public services