Budget 2022: 10 key spending moves - Where the money's gone

COST OF LIVING: A new temporary $27 a week payment for people who earned less than $70,000 last year in a $1 billion cost of living package. Fuel tax cuts and half-price public transport extended for another two months to the end of August.

HEALTH: $11 billion over four years to clear DHB deficits and catch up with cost pressures ahead of the rollout of the health reforms, $188m for the Māori Health Authority. Also, $1.3b to upgrade hospitals, including Whangārei, Nelson and Hillmorton and $1.1b more funding for measures such as more ambulances and helicopters, GPs and Māori providers.

Health is the big-ticket item in the Budget. Photo / Sylvie Whinray

TRANSPORT: $200m towards first stages of light rail project in Auckland, feasibility studies for a new port in Manukau Harbour and for a dry dock at Northland's Northport. Also, $349m for new trains and wagons.

MEDICINE: Pharmac's budget topped up by another $191m over two years - taking total funding to $1.2 billion. Expected to focus on cancer treatment.

WHAT ABOUT COVID-19: The Covid Fund has been closed and the left-over money put into health and the cost of living package. The Covid response will now be funded out of government department budgets.

EDUCATION: $2b including $300m to set up the replacement to the decile system (the Equity Index). Also, $777m for new classrooms and schools.

INFLATION: Forecast to peak around 6.9 per cent in the middle of this year before easing to 5.2 per cent in 2023 and dropping to below 3 per cent by 2026.

HOUSING: Changes to caps for first-home buyer grants and loans and Kainga Whenua loans. Also, $1.8b for public and transitional housing programme.

THE FUTURE: The books are forecast to return to surplus in 2025 ($2.6b), wage growth forecast to be higher than 6 per cent over the next two years.

AN ELECTION YEAR SPEND-UP? Government sets itself another healthy operating allowance for next year's Budget of $4.5b after this year's $6b. It drops back down to $3b in 2024 and 2025.