Today the New Zealand Finance Minister, Hon. Dr Michael Cullen,  presented the 2006 New Zealand Budget to the  House of Representatives. There is a NZ$8.5 billion OBERAC surplus and a NZ$1.5 billion cash surplus.
It has been labelled as the "Bondi Budget"  by National leader Don Brash, "Helen Clark and Michael Cullen believe there is a place for tax cuts - it's called Australia" he said. 
The budget allocates new operating spending of $9.6 billion and capital of $2.7 billion over the next four years.
Key issues in the budget includes:
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NZ Finance Minister introduces 2006 budget