Parliament

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

 

Budget will map credible path back to surplus

Hon Bill English
Minister of Finance


27 April 2011 Media Statement

Budget will map credible path back to surplus

The Government agrees with the OECD that New Zealand should return to budget surplus as soon as possible and the Budget next month will take steps in that direction, Finance Minister Bill English says.

“In its economic survey of New Zealand out today, the OECD points out that achieving faster economic growth requires progress across a broad policy front,” Mr English says.

“In particular, it recommends a faster improvement in our fiscal position, which would take the pressure off monetary policy. The OECD points out this would allow interest rates to remain low for longer and create room for the exchange rate to ease.

“All of this would support the economic adjustment - which is already underway - to build faster growth from savings, exports and productive investment, rather than excessive borrowing and increases in government spending.”

Mr English says the Budget next month will set out several measures that will help the Government return to budget surplus.

“Budget 2011 will take further steps to get the Government’s finances in order, setting a path back to surplus so we can start repaying debt on behalf of taxpayers and help increase national savings.

“We will do that while continuing to support the most vulnerable and maintaining public services.”

The OECD report is available at:

http://www.oecd.org/document/34/0,3746,en_2649_33733_47611554_1_1_1_1,00.html


ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Supreme Court: Worksafe Decision On Whittall Pike River Prosecution Unlawful

The question in issue on the appeal was whether WorkSafe New Zealand acted to give effect to an unlawful agreement of this nature when it offered no evidence on charges against Peter William Whittall for breaches of the Health and Safety in Employment Act 1992...

The Supreme Court... has found that the decision to offer no evidence was made under an unlawful agreement to stifle prosecution. It has granted a declaration to that effect. More>>

 

Cullen To Chair: Tax Working Group Terms Of Reference Announced

Finance Minister Grant Robertson and Revenue Minister Stuart Nash today announced the Terms of Reference for the Tax Working Group and that the Group will be chaired by Sir Michael Cullen. More>>

ALSO:

Gordon Campbell: On The New Pike River Agency (And The Air Strike Wing)

Much of the sympathy the public still feels for the families of the Pike River miners has been sustained by the sense that the previous government – let alone the mining company and the processes of receivership and litigation – has never dealt honestly, or fairly, with them. More>>

ALSO:

Not Going Swimmingly: Contractor Cut, New Dates For Christchurch Sports Centre

“As an incoming Minister, I have been conducting a thorough review of progress on the Anchor projects and to learn of a $75 million budget blowout on this project was very disappointing..." More>>

ALSO:

Tertiary: Allowances, Loan Living Costs To Get Boost

“From 1 January, student allowance base rates and the maximum amount students can borrow for living costs will rise by a net $50 a week,” says Education Minister Chris Hipkins... further adjusted from 1 April 2018 in line with any increase in the CPI. More>>

ALSO:

Foreign Affairs: Patrick Gower Interviews Jacinda Ardern

Prime Minister Jacinda Ardern says discussions have already begun on how to bring climate change refugees into New Zealand under a Pacific seasonal employment plan... More>>

ALSO:

Gordon Campbell: On The Centre Right’s Love Of ‘Nanny State’

You’d almost think it was 2005 again. That was a time when the rugged individualists of the centre-right were being beset by government regulations on the nature of light-bulbs, the size of shower heads, the junk food available at school tuck shops and other such essentials... More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election