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


Half-Year Update to be issued on 18 December

Half-Year Update to be issued on 18 December

The Government will issue its Half-Year Economic and Fiscal Update and Budget Policy Statement on 18 December, Finance Minister Bill English announced today.

“It will update the Budget’s economic and fiscal forecasts, and we will set out the Government’s wider economic programme in the accompanying Budget Policy Statement,” he says.

“The Government is focused on its target of getting back to surplus in 2014/15 and building a more competitive and productive economy so we can support new jobs and increase incomes.

“We have supported the economy through the recession and its aftermath by running large deficits and increasing the Crown’s net debt to more than $50 billion.

“But this stimulus is expensive, which is why we’ve set out a balanced programme of curbing new spending, returning to surplus and getting debt under control,” Mr English says.

“That’s essential in a world where economic and financial market conditions remain difficult and unpredictable. We need to remain on top of the factors we can control, so we can minimise our debt and have a strong balance sheet.

“This will be a long-term process and will continue beyond when we return to surplus, because we will then have to make choices about increasing investment in priority public services, resuming contributions to the New Zealand Super Fund and repaying debt.”

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Australia Deportations: English Relaxed On Immigration Centre Conditions

Labour's Annette King: “There have been numerous reports from inside these detention centres on just how bad conditions are... If they were being held in any other foreign jail, I imagine Mr English would be somewhat concerned. More>>


Schools: Achievement-Based Funding Would Be A Disaster

The Education Minister’s speech to the PPTA Conference raising the spectre of achievement data driving a new funding system would be disastrous, says NZEI Te Riu Roa. More>>

  • Video Out-Link - PPTA Annual Conference 2015 on Livestream (Q+A dicussion suggests funding would be directed to less successful schools.)

  • ALSO:

    ECE Report:

    Key In NY: Prime Minister Addresses United Nations

    Prime Minister John Key has addressed the United Nations General Assembly in New York, focusing on a call for action in Syria and on other conflicts, reform of the veto process and on the UN’s Sustainable Development Goals. More>>.


    Gordon Campbell: On The Lack Of Accountability Over Philip Smith

    In New Zealand, accountability is an exotic creature rarely glimpsed at ministerial level, or among senior management. The flight to Rio by the paedophile /murderer Philip John Smith/Traynor is no exception. More>>


    More On Corrections

    Gordon Campbell: On Putin’s Diplomatic Coup Over Syria

    There’s a simple historical precedent for what is occurring in Syria. During WWII, the Allies joined forces with a known butcher and tyrant – Joseph Stalin of the Soviet Union – in order to defeat a greater evil, Nazi Germany… More>>


    Key 'Didn't Know': Brownlee Seeks Pandas In China

    While Defence Minister Gerry Brownlee is in China pushing a taxpayer funded deal to bring two pandas to New Zealand, the country’s military look set to be hit with a pay freeze, Opposition Leader Andrew Little says. More>>


    Scoop Business: GCSB Willing To Extend Cyber-Attack Programme To Local ISPs

    The Government Communications Security Bureau’s ‘Cortex’ cyber-security programme has been successful in helping identify and mitigate a series of cyber attacks since its introduction and an extension to cover local internet service providers is still on the cards... More>>


    Get More From Scoop



    Search Scoop  
    Powered by Vodafone
    NZ independent news