Treasury Tests Long-term Fiscal Analysis with External Panel
19 Mar 2012
The Treasury will test its analysis of the
Crown's long-term financial challenges with an independent
external panel of experts.
"The Treasury is required by
law to provide Parliament a Statement on the Long-term
Fiscal Position at least once every four years and the
next report is due by October 2013," says Gabriel Makhlouf,
Secretary to the Treasury.
"These Statements,
which provide 40-year projections on the Crown's fiscal
position, identify challenges that will face future
governments, such as those arising out society's ageing
population, and provide Members of Parliament with
evidence-based options on how to meet those challenges." Mr
Makhlouf said.
"In order to further strengthen the
quality of analysis contained in the Treasury's 2006 and
2009 Statements, we have now established an external
panel of independent experts and commentators against which
we will test our assumptions and analysis in the countdown
to the publication of the third Statement which we
plan to publish by 1 April 2013," Mr Makhlouf said.
"The
external panel will be chaired by Professor Bob Buckle from
Victoria University and its role will be to help ensure that
the next Statement is robust and provides a range of
viable options for managing the Crown's financial position
in a way which protects the interests of New Zealanders now
and in the future," Mr Makhlouf said.
The Treasury's
long-term fiscal Statements are designed to be an
analytical tool to assist Parliamentarians make
evidence-based trade-offs to manage emerging financial
challenges. The Statements do not make policy
recommendations.
Most members of the external panel will
provide their own views and observations of key issues,
options and potential trade-offs through the presentation of
papers at a conference, which will be jointly hosted by
Victoria University and the Treasury in December.
The
panel will meet monthly from August to November 2012. All
research papers and the minutes of panel meetings will be
published on-line after each meeting.
Membership of
the External Panel advising the Treasury on the next
Statement on the Long-term Fiscal
Position
• Chair: Professor Bob Buckle, Pro
Vice-Chancellor and Dean of Commerce at Victoria University
of Wellington
• Geoff Bascand, Government
Statistician and the Chief Executive of Statistics New
Zealand
• Professor John Creedy, Professor of
Economics, Victoria University of Wellington/Treasury
• Hon Dr Michael Cullen, Chair of New Zealand
Post Ltd; Minister of Finance, Labour-led governments
(1999-2008)
• Diana Crossan, Retirement
Commissioner
• Professor Chris Cunningham,
Director, Research Centre for Maori Health & Development,
Massey University
• Dr Brian Easton, economist
and writer
• Professor Norman Gemmell, Chair in
Public Finance at Victoria University of
Wellington
• Mary Holm, financial columnist and
lecturer
• Colin James, journalist and analyst
(whose contributions will be strictly analytical, not
advisory)
• Alison O’Connell, Senior
Associate, Institute of Policy Studies, Victoria University
of Wellington
• Dr Susan St John, Co-Director,
Retirement Policy and Research Centre, University of
Auckland
• Professor Neil Quigley, Deputy Vice
Chancellor (Research), Victoria University of
Wellington
• Professor Nicholas Mays, Professor
of Health Policy and Director, Policy Research Unit in
Policy Innovation Research, London School of Hygiene and
Tropical Medicine
• Hon Simon Upton, Director,
Environment Directorate, Organisation for Economic
Cooperation and Development (OECD); Minister of the Crown,
National-led governments (1990-1999)
• Dr Patrick
Nolan, Chief Economist, Reform think tank, London
Two
other members are to be confirmed
shortly.
ENDS