Budget 2025: KiwiSaver and Best Start cut, while Working for Families boosted

New Zealand’s latest Budget, presented by Finance Minister Nicola Willis, aims to secure the country’s future but has drawn criticism for being an “austerity Budget” that negatively impacts low-income workers and pension savers. Key changes include a reduction of the Government’s annual KiwiSaver contribution from $521 to $260 and the introduction of means-testing for those earning $180,000 or more. As a result, many New Zealanders will face financial challenges despite some areas receiving relief.

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