How far will the $27 per week cost of living budget payment extend?

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This will buy you nine sacks of mixed vegetables, washed about as much as liters of milk, but low-income Kiwis will have to stretch their new $27-a-week cost-of-living payment a bit further for a new luxury Italian set. wheels or a house on the outskirts of town.

Finance Minister Grant Robertson announced in yesterday’s budget that those earning less than $70,000 in the past year would receive a total of $350 over three months to help with the soaring cost of life.

About 2.1 million people will receive the payment, which is expected to cost taxpayers $814 million.

Based on Grocery Countdown, the extra $27 per week would cover a substantial amount of staple foods, though most aim for a more varied diet.

Finance Minister Grant Robertson presents his 2022 budget. Photo/Mark Mitchell

Payment would buy seven loaves of Tip Top White Toast or three 2.5kg bags of Countdown Potatoes, with a few dollars exchange after each.

Find an extra dollar and recipients could buy four market value 9-pack beef sausages to go in that fresh roll, topped with nearly 11 cans of Watties tomato sauce, which sell for $2.50 each.

The cupboard will be well stocked for a sweet treat afterwards, with $27 towards the purchase of nine packs of Arnott’s Digestives Chocolate Cookies.

The extra payment also covers the cost of a pair of shoes, with H&H adult canvas high-top trainers priced at $20 a pair at The Warehouse, with a two-pack of crew socks slightly over budget at $8. the packet.

However, more luxurious – or even just ambitious – purchases were off the table.

A 2018 Lamborghini Aventador Coupe for sale on drive.co.nz would cost recipients of the cost of living payment $579,995, or more than 21,000 weeks of $27 payments.

A home in an Auckland suburb on the outskirts of the city is even more out of reach, with a refurbished three-bedroom villa in Ponsonby advertised on One Roof this week with an asking price of $2.095 million.

Twenty-seven thousand five hundred and ninety-two payments of $27 and it’s yours.

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