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

 


Govt Plan Strikes The Right Balance, Says IMF

Hon Bill English
Minister of Finance


3 April 2012
Media Statement
Govt Plan Strikes The Right Balance, Says IMF

Finance Minister Bill English has welcomed the International Monetary Fund’s assessment of the Government’s plan to return to surplus by 2014/15.

In its preliminary concluding statement on New Zealand, published today, the IMF notes the Government’s medium-term deficit reduction plan is aimed at limiting the increase in public debt to guard against future economic risks and contributing to lowering external debt.

“In our view, this strikes the right balance between the need to limit public debt increases, while containing any adverse impact on economic growth during the recovery,” the IMF says.

Mr English says returning to surplus in 2014/15, while challenging, will make an important contribution to reducing New Zealand’s external debt and improving national savings.

“The IMF and others clearly recognise the focus of the Government’s plan in achieving this important goal,” he says

“Getting back to surplus will help create a buffer against future global shocks and, as the IMF notes, it will limit pressure on monetary policy and therefore the exchange rate. This will be important in easing headwinds for exporters and reducing the current account deficit.

“That’s why Budget 2012 will be a zero budget or close to zero, in terms of extra spending over the next four years. We will do that because we need to get back to surplus so we’re not continuing to increase debt.”

IMF report: http://www.imf.org/external/np/ms/2012/040212.htm


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Two Years With New Methods: Crime Stats Show Increase Led By Burglary

The two years of data show an increase in the total victimisation rate of 3.1 per cent, with 12,060 more victimisations in the 2015/16 year when compared to 2014/15 year. From this increase, 72 per cent is attributable to burglaries. More>>

ALSO:

Auckland Relocation Grants: 12 Grants Paid So Far

Since the policy took effect one month ago, 12 applicants have received the non-recoverable grant, supporting 32 people. $54,508 has been paid out, covering things like moving costs, bond, rent in advance and letting fees. More>>

ALSO:

Vaccine Funding Change: HPV Vaccines For All Children

PHARMAC has today announced changes to funded vaccines, which will benefit an extra 100,000 people... The human papillomavirus (HPV) vaccine will be available for all children and adults up to the age of 26 years, and boys will now be included in the HPV school vaccination programme. More>>

ALSO:

Gordon Campbell: On Why The Opinion Polls For Key And Trump Defy Gravity

What is going on? Donald Trump got confirmed as the Republican presidential candidate at a bizarrely chaotic political convention… and promptly received an upwards bump in the polls to where he’s now rating ahead of Hillary Clinton, for only the second time this year. More>>

Sugar: Auckland Leisure Centres Axe Unhealthy Drinks

Auckland Council is to stop selling drinks that are sweetened by sugar from vending machines at its leisure centres in a bid to try to reduce obesity and type 2 diabetes... More>>

ALSO:

Gordon Campbell: On Todd McClay’s Faulty Memory

Time and again, whenever an issue arises the initial response by government is to deny or diminish the problem – nothing to worry about here, everything’s OK, move on. Then, hang on. In line with the usual pattern, as embarrassing details emerged into daylight, the story changed. More>>

ALSO:

Labour's 'Future Of Work': Major Reform Of Careers And Apprenticeships

The next Labour Government will transform careers advice in high schools to ensure every student has a personalised career plan, Leader of the Opposition Andrew Little says. More>>

ALSO:

State Investments Management: Treasury Likes IRD, Not Education Or Corrections

The Inland Revenue Department has scored an 'A' in the first tranche of the Treasury's investor confidence rating for state agencies that manage significant Crown investments and assets, gaining greater autonomy as a result, while the Corrections and Education ministries gained a 'C' rating. More>>

ALSO:

Govt Goal: NZ To Be "Predator Free" By 2050

Prime Minister John Key has today announced the Government has adopted the goal of New Zealand becoming Predator Free by 2050... “That’s why we have adopted this goal. Our ambition is that by 2050 every single part of New Zealand will be completely free of rats, stoats and possums." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news