BPS-DEFU date set

The Budget Policy Statement and December Economic and Fiscal Update will be released on Thursday, December 18 at 10am, Finance Minister Michael Cullen said today.

“The BPS will discuss the government’s fiscal strategy but will also provide a more of a focus on the upcoming budget than in past years to anticipate planned changes to the Fiscal Responsibility Act.

“The government plans to make a stronger differentiation between the BPS and the Fiscal Strategy Report accompanying the budget.

“Currently the two documents tend to traverse much the same ground, dealing with the government’s broad fiscal strategy. The intention is to make the BPS a much more budget-focussed document,” Dr Cullen said.

Legislation to achieve this change, and other changes to make the state sector more transparent, more accountable and more flexible, will be introduced into the House either late this year or early in the New Year.

Details of lock-up arrangements for the BPS and Defu will be provided closer to the time.

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