Topic: BUDGET

TAHUA 2018: Peters' Pacific Reset

By Leo Horgan

Today's budget will confirm Winston Peter's pre-budget announcement of a huge $1bil increase in foreign affairs funding over the next four years.

In what is being labelled a 'Pacific Reset', more than $700 million will be allocated to the Official Development Assistance Fund, with Pacific aid and development a top priority.

The government says that the funding increase will address the shortfall in foreign affairs and aid spending under the previous government, which undertook a restructure of the Ministry of Foreign Affairs and shut an embassy in Sweden.