Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Crown Result Better Than Expected

The 2000 Crown Financial Statements show that the Crown’s finances reflect an improvement to Crown operations compared to the previous year and provide a strong basis for going forward, Treasurer and Minister of Finance Dr Michael Cullen said today.

Dr Cullen was commenting on the release of the Crown Financial Statements for the year ended 30 June 2000.

He said the $1.45 billion surplus was ahead of the Budget forecast by $686 million. Net Crown worth and net Crown debt were $1.28 billion and $423 million ahead of forecast, respectively.

“However, over half the improvement in the operating balance result was due to timing issues and favourable valuation movements. As a result, it is not likely to flow through into the 2000/01 year.

“Looking forward, the Government remains committed to its prudent fiscal policy, by staying within the $5.9 billion spending cap over the next three years, and focusing on ensuring we get value from the money we spend at the moment.

“We are still looking to strengthen the fiscal surpluses to ensure we are able to put aside money to partially pre-fund future New Zealand superannuation pressures.

“These results show that the Government’s strategy of continuing to run surpluses and pay down debt, while setting aside an allowance for future superannuation payments remains achievable” Dr Cullen said.


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>

ALSO:

Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>

ALSO:

Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news