LIVE: Luxon delivers post-Budget speech

National Party leader Christopher Luxon.

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.

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