Cabinet has officially signed off what will be a world-first Wellbeing Budget and Prime Minister Jacinda Ardern is confident it will show the Government is managing its books responsibly.

Although she did not reveal much detail – saying instead the Government would be making its usual pre-Budget announcements – Ardern did hint at a number of areas that will be a focus.

These include an emphasis on the health of the environment and transitioning to a sustainable low emissions economy.

The Budget will be unveiled on May 30.


"Budget 2019 will continue to show the Government is maintaining a strong focus on the economy and running the books responsibly in the face of slowing global growth," Ardern told post-Cab today.

The slowing level of global economic growth has been a concern for a number of economists in New Zealand, including the Governor of the Reserve Bank, Adrian Orr.

Ardern said that, as "prudent economic managers," the Government would be tackling "long-term challenges" in the Budget.

In December, Finance Minister Grant Robertson detailed some areas of what these challenges included when it released its five budget priorities.

These include supporting mental wellbeing for all New Zealanders, with a special focus on under-24s, and lifting Māori and Pacific incomes, skills and opportunities.

"What we have signed off is a culmination of months of wellbeing work, with officials and ministers working across portfolios for better outcomes," Ardern said.

"It is a new approach to the development of a Budget, which is about creating a New Zealand current and future generations can be proud of."

Although she revealed that Cabinet had officially signed off the Budget, she would not be drawn if it had signed off its official response to the Tax Working Group's recommendations.

This comes after National Leader Simon Bridges said he understood the Government's response to the report would be given Cabinet's seal of approval today.

Ardern would only say: "We have stuck to our timetable" when questioned about the matter.

The Government has said it would release its official response in April, but would not say when in the month the announcement would come.

"While I won't get into the specifics of different decision-making points – we're sticking to our plan."

All she would confirm is the response would be coming this month.