National Party leader Christopher Luxon says the government's Budget contains "bandaid" solutions for the country's cost of living crisis.

Finance Minister Grant Robertson delivered a Budget with a one-off $350 payment for nearly two million New Zealanders as part of its centrepiece $1 billion cost of living relief package.

Half-price public transport fares and fuel tax reductions were funded for two more months as well as ongoing public transport concession for Community Services cardholders.

The Budget set aside $11.1b for the health system, an extra $191m for Pharmac, funding for more grants for first time home buyers, and $580m for Māori in spending across health, social and justice sectors.

A large $19b deficit is expected this year, returning to surplus in 2025.

Luxon said on Thursday the Budget was taking households, economic and fiscal results and outcomes backwards.

More to come...