Uploaded August 2026 | Updated September 2026, 2 weeks ago
The government has delayed the fuel excise hike that was planned for next year - and will use its fuel crisis rainy day fund to help pay for it | Subscribe: youtube.com/RNZVideo?sub_confirmation=1
Fuel tax had been set to increase by 12 cents in January next year - followed by another 6 cents in 2027 and another 4 cents in 2028 - for a total increase of 22 cents.
Ministers have agreed to instead stagger six-monthly hikes of 5 cents - beginning in 2028. That means a total increase of 20 cents over the same period - but backloaded.
Prime Minister Christopher Luxon and Minister for Transport Chris Bishop announced that Cabinet has agreed to use its $450 million rainy day fund - created in this year's Budget - to help cover that - and will find the remainder elsewhere.
Full story: rnz.co.nz/news/politics/1198558/watch-live-pm-christopher-luxon-holds-post-cabinet-briefing
The government has delayed the fuel excise hike that was planned for next year - and will use its fuel crisis rainy day fund to help pay for it | Subscribe: youtube.com/RNZVideo?sub_confirmation=1
Fuel tax had been set to increase by 12 cents in January next year - followed by another 6 cents in 2027 and another 4 cents in 2028 - for a total increase of 22 cents.
Ministers have agreed to instead stagger six-monthly hikes of 5 cents - beginning in 2028. That means a total increase of 20 cents over the same period - but backloaded.
Prime Minister Christopher Luxon and Minister for Transport Chris Bishop announced that Cabinet has agreed to use its $450 million rainy day fund - created in this year's Budget - to help cover that - and will find the remainder elsewhere.
Full story: rnz.co.nz/news/politics/1198558/watch-live-pm-christopher-luxon-holds-post-cabinet-briefing
