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

 


No surprises in the New Zealand Government Budget update

Tuesday 17 December 2013
News release
No surprises in the New Zealand Government Budget update


PwC Director Chris Money says, "There were no real surprises in today’s Government release of the Half-Year Economic and Fiscal Update and Budget Policy Statement."

PwC’s commentary on the release, also released today, highlights a cautiously optimistic approach by the Government.
“The Government continues to predict a return to surplus in 2014/15. In addition, the economy is forecast to grow by an average of 2.6 percent each year over the next five years and the unemployment rate is expected to fall below six percent in 2014/15 and down to 4.8 percent in 2018.

“However, the Government faces five key challenges leading into Budget 2014 and the ensuing parliamentary term – striking a balance between affordability, demand and supply for housing; getting a sustainable, high-value public service; driving growth in the regions; globally competitive cities; and managing demographic change in a fiscally responsible manner.

“Budget 2014 will be pivotal not just to the current Government’s hopes of winning the 2014 election, it will also largely set the scene for the hopes of the Government to win a fourth term in 2017,” Mr Money says.

PwC’s full commentary on today’s Half-Year Economic and Fiscal Update and Budget Policy Statement release can be found online at www.pwc.co.nz

-ends-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news