New Zealand will keep a tight rein on day-to-day spending in this year's budget while increasing capital investment to strengthen infrastructure, defence and energy resilience, Prime Minister Christopher Luxon said in a pre-Budget speech on Wednesday. The budget strategy reflects a recalibration by the government, focusing on restoring the public finances while boosting investment in critical assets, as policymakers respond to a sluggish economy and aging infrastructure at home and rising geopolitical and security risks abroad.