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Budget 2014: Key facts, Budget Summary Documents

See also: Budget 2014: At a Glance

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Executive Summary
Managing a Growing Economy
Hon Bill English, Minister of Finance
15 May 2014

The Executive Summary is the overview of all the Budget information and contains the main points for the media and public. This summarises the Government's spending decisions and key issues raised in the Budget Speech, the Fiscal Strategy Report, and the Budget Economic and Fiscal Update.

b14execsumm.pdf

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Key Facts for Taxpayers - Contents
The Key Facts for Taxpayers is a summary of tax, expenditure and income data from the Budget Economic and Fiscal Update (BEFU) 2014.
Contents
• New Zealand's GDP growth robust globally
• Momentum in wage growth to continue
• Net core Crown debt reducing
• Operating balance returns to surplus
• Budget 2014 allocation of the Future Investment Fund
• Allocation from the Fund
• Support package for families
• Boosting economic performance
• Who pays income tax... and how much
• Personal income tax
• Company tax rate
• GST
• Where core Crown expenses go
• Where core Crown revenue comes from
• How the following factors affect tax revenue
• What is the full-year cost of..
• Spending restraint will lead to growing surpluses
b14taxpayers.pdf

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Summary Tables for the Estimates of Appropriations 2014/15
The Summary Tables provide a high-level perspective and comparative 'ready reference' for all appropriations (annual, permanent and multi-year (MYAs)) in the Estimates of Appropriations 2014/15.
The Summary Tables cover:
• the trends for all Votes - showing actual or estimated actual totals for the five years to 2013/14, Budget totals proposed for 2014/15 and estimated totals for the three financial years to 2017/18 with respect to each type of appropriation and of Crown revenue and capital receipts
• each appropriation type and total appropriations - showing budgeted and estimated actual totals for 2013/14 and totals proposed for 2014/15 for each Vote
• current-year revenue-dependent appropriations for each Vote
• multi-year appropriations by Vote, appropriation type and period
• capital injection authorisations for 2014/15, and
• types of Crown revenue and Crown capital receipts for 2013/14 and 2014/15 associated with each Vote.
For inclusion in the Summary Tables, MYAs are converted into actual or forecast amounts for each financial year.
b14sumtabestimates.pdf

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Summary Tables for the Supplementary Estimates of Appropriations 2013/14
The Summary Tables provide a high-level perspective and comparative 'ready reference' for all appropriations (annual, permanent and multi-year) in the Supplementary Estimates of Appropriations 2013/14.
The Summary tables cover:
• aggregates for all Votes - showing totals for the Estimates and Supplementary Estimates for 2013/14 with respect to each type of appropriation and of Crown revenue and capital receipts
• each appropriation type and total appropriations for each Vote - showing totals of the Estimates and Supplementary Estimates for 2013/14
• current-year revenue-dependent appropriations
• multi-year appropriations by Vote, appropriation type and period
• Crown revenue and Crown capital receipts for 2013/14 associated with each Vote, and
• net assets of each department - showing the projected closing balance for 2013/14.
For inclusion in the Summary Tables, MYAs are converted into actual or forecast amounts for each financial year.
b14sumtabsuppestimates.pdf

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2014 Tax Expenditure Statement
The purpose of this statement is to provide additional transparency around policy motivated 'expenditures' made through the tax system. Tax expenditures take the form of an exemption, allowance, preferential tax rate, deferral or offset that reduce a tax obligation to achieve a specific policy objective.
Contents
• Introduction
• Changes from Previous Statements
• What Is a Tax Expenditure?
• Current Tax Expenditures
• Tax Expenditures Categorisation
b14taxexpstmt.pdf

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Budget 2014 Data from the Estimates of Appropriations 2014/15
The Budget Data consists of two Excel workbooks, containing data as published in the Estimates of Appropriations 2014/15:
• appropriation expenditure,
• Crown revenue and capital receipts.
Appropriation Expenditure and Revenue
The data in the workbooks for appropriations and Crown revenue is broken down by department, vote and appropriation/revenue type for 2014/15. We have also provided Actuals data covering the fiscal years ending 30 June 2010, 2011, 2012 and 2013; and Estimated Actuals data for 2014.
The Data
Raw data has been placed in the Excel workbooks to allow anyone to filter, sort and manipulate the data for their own purposes. Some examples in the form of pivot tables and charts are also provided.
Information relating to the use of these Excel workbooks is contained within the workbooks on a sheet titled "Explanation". More assistance on the use of pivot tables and charts can be obtained from the Excel help system.
This data is available in Excel format only.
Links to Excel Tables
• Expenditure Data - Estimates of Appropriations 2014/15 [EXCEL 4.4MB] b14expendituredata.xls
• Revenue Data - Estimates of Appropriations 2014/15 [EXCEL 348KB] b14revenuedata.xls
Disclaimer
These workbooks support, but do not form part of, the official Budget documents. The printed copies of the Estimates and Supplementary Estimates, as tabled by the Minister of Finance on each Budget day, are the official sources for data contained in these workbooks.
The Treasury has generated these workbooks as a resource for interested persons and has taken all care to ensure the data are correct, but does not take responsibility for any errors or conclusions drawn from this data.
The Treasury does not provide technical support on the use of Excel workbooks.
Notes
These workbooks are based on the data contained in the Crown's Financial and Information System, which was used to collect and compile the raw data for the 2014/15 Estimates. They do not include data from the 2013/14 Supplementary Estimates.
Data relating to the 2014/15 fiscal year should match the 2014/15 Estimates exactly.
All data prior to the 2014/15 budget data (e.g. Actuals, Estimated Actual) is as reported in that year to the Crown's Financial and Information System by the agency. This raw data has not been restated for subsequent restructuring as reported in Part 1.2 of the Estimates (ref. s.15(2) of the PFA). Where restructuring has occurred, the sum of the detail in this workbook for data prior to the 2014/15 year will not equal the appropriation totals as reported in Part 1.2.

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