New Zealand Defence Force gets major budget boost
The New Zealand government revealed its budget for the 2019-20 fiscal year on 30 May with a large chunk of additional funds being allocated to defence.
The additional funding is part of a wider overhaul of defence as the government looks to modernise the country’s armed forces. This will include also include the release of a new defence capability plan.
A total of NZ$5.06 billion ($3.3 billion) has been allocated to defence. This is a year-on-year increase of 20% from the current allocation of NZ$4.054 billion ($2.64 billion).
New Zealand’s defence funding is calculated from two allocations – ‘Vote Defence
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