Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Crown accounts in good shape, could be better

Tuesday, November 4th, 2008

Crown accounts in good shape, could be better

Treasury forecasts have again underestimated the strength of the Crown Accounts, this time by $1.7billion for the three months to 30 September, the Employers & Manufacturers Association (Northern) points out.

"Taxation has been running so high for so many years, that despite the government hiring 10,000 more highly paid officials the government's accounts are in good shape," said Alasdair Thompson, EMA's chief executive.

"What's equally surprising is that the government has been increasing expenditure without achieving productivity gains, such as in health, with a net financial asset surplus over liabilities equal to 5.7% of GDP.

"The next government's objective must be to focus on driving the private sector's productive growth, especially in exporting, as the way to increasing New Zealanders' standard of living."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>


Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>


Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>