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

 


Government finances improve on last year

Government finances improve on last year

Firm control of the Government’s expenses and an improvement in revenue has kept the Crown’s financial position broadly on track with forecasts in the five months to 30 November, Finance Minister Bill English says.

“Compared to the first five months of the previous financial year, we have made good progress in moving towards our target of getting back to surplus by 2014/15,” he says.

“The operating deficit before gains and losses has come in at $3 billion for the five months to 30 November. That’s a $1.5 billion improvement on the $4.5 billion deficit for the same five months last year.

“Core Crown tax revenue was $1.1 billion higher for the first five months of this financial year, partly as a result of higher source deductions through wage growth.

“At the same time, core Crown expenses were $50 million lower than the previous year, as government spending remained relatively flat.

“Overall, the results for the first five months of the year were in line with forecasts in the Half-Year Update last month.

“It’s important that the Government sticks to its programme of responsible fiscal management, so we can get back to surplus and start repaying debt.

“At the same time, we will remain focused on building a more competitive and productive economy that encourages investment and supports jobs and higher incomes.

“That will be the focus of Budget 2013 later in the year,” Mr English says.
ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news