Budget Day 101
Last updated: 15 May 2026The Budget outlines how the Government intends to spend money in the coming financial year.
What is the Budget statement?
Each year, the Minister of Finance delivers the Budget statement as a speech in the House. Given its importance, no time limit is set on their speech. Traditionally the Budget is delivered on a Thursday in May (known as Budget Day).
The statement sets out how the Government proposes to spend public money and manage the economy for the financial year ahead. This statement can also include changes to Government policy.
The Budget statement kicks off the House’s annual Budget debate. This debate lasts for up to 8 hours (excluding delivery of the Budget statement) and usually takes priority over other business, giving members of Parliament enough time to scrutinise the Budget.
Following the speech, the Budget statement will be available (along with other Budget documents) on:
What role does Parliament play on Budget Day?
The Government is required to present its Budget to Parliament by 31 July each year.
Parliament has a crucial role in examining how taxpayers’ money is being spent and approving any money to be spent by the Government. Parliament gives this approval by passing a law called an Appropriation Bill. Budget Day marks the start of this approval process.
Parliament’s select committees also have an important role to play. After the Budget speech, committees scrutinise the Government’s spending plans. Information about which committees will examine which areas of spending will be published on the Parliament website.
Budget bills
Appropriation Bill
The Appropriation Bill is the main Budget bill. The Minister of Finance introduces this bill to the House when they deliver their Budget Statement on Budget Day.
The bill seeks parliamentary authorisation for individual appropriations (specific amounts of money) contained in the Estimates of Appropriations (spending proposals) for the Government for the coming financial year.
The name of the bill in any given year references the financial year for which it is seeking funding approval. For example, the Appropriation Bill introduced in 2025 is called the Appropriation (2025/26 Estimates) Bill.
Imprest Supply Bill
Each year during Parliament’s financial cycle, a series of Imprest Supply Bills are passed. These bills provide the Government with temporary authority to continue spending money until the main Appropriation Bill is passed.
Appropriation (Confirmation and Validation) Bill
The purpose of the other major bill passed in the financial cycle is to validate Government spending in the past financial year. The annual review process is a major part of the passing of the Appropriation (Confirmation and Validation) Bill.
Follow the action
You can follow the Budget Day action live on Parliament TV on channels Freeview 31, Sky 86, or on Parliament Video – just follow the link below.
The Budget statement and debate will also be available to watch on demand on Parliament Video.
New Zealand Sign Language interpretation will be provided for the Budget statement delivered by the Minister of Finance and speeches from party leaders.
