Luxon: This year our focus is on growth

• By Christopher Luxon, Prime Minister and MP for Botany

I recently delivered my state of the nation speech in Auckland.

My message is simple and clear: My most important focus as Prime Minister is to deliver economic growth needed to enable you and your family to get ahead.

It’s only through economic growth that we can improve our quality of life, strengthening local businesses, lifting incomes, and creating opportunity across New Zealand.

A growing economy means we can deliver better infrastructure – quality roads, so Kiwis can get where they need to – faster.

A growing economy means better, more responsive public services.

A growing economy means more money for hospitals, so we can have more surgeons and doctors, more medicine, and faster access to treatment when you need it.

A growing economy means more money for schools with better classrooms, better technology, and more quality time spent with your children and grandchildren.

A growing economy means safer and more vibrant towns and cities with growing businesses, more parks and libraries, higher quality homes, and more of them.

We know our economic plan is working. Wages are growing faster than inflation, and we’ve removed cost pressures, like the Auckland regional fuel tax, from the economy.

Interest rates are falling. We’ve seen three Official Cash Rate (OCR) rate falls, with the Reserve Bank forecasting more relief on the way soon.

For anyone with a mortgage, that means real savings of around $200 per fortnight for someone looking to re-fix a $500,000 mortgage.

And just as we campaigned on, the tax relief we delivered last year means Kiwis are keeping more of what they earn, for the first time in 14 years.

In my speech I outlined two new ways our Government is looking to turbocharge economic growth in 2025.

The first is Invest New Zealand. Modelled on successful examples from countries like Ireland and Singapore, Invest New Zealand will give the green light to foreign investors, which will help unlock tens of billions of dollars in global investment, significantly increase the capital available for key infrastructure.

This will make New Zealand a more attractive and predictable destination for investors, and that certainty will generate the investment needed to turbocharge New Zealand’s economy.

We’re also rolling out the biggest reset of the science and innovation sector in more than 30 years.

Our reforms will modernise the way we harness Kiwi ingenuity, with a sharper focus on commercialising research to deliver real economic benefits.

Getting the settings right will boost long-term economic performance and ensure our scientists can still pursue meaningful careers in New Zealand but will be incentivised to make science work for New Zealand’s economy.

This year will be another massive year for New Zealand and I’m committed to doing everything it takes to unleash the growth, innovation, and investment we need to thrive, because Kiwis deserve nothing less.