Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Fourth Long-Term Fiscal External Panel Meeting Notes On-Line


24 January 2013

MEDIA STATEMENT

Fourth Long-Term Fiscal External Panel Meeting Notes On-Line

A summary of proceedings of the fourth session of the Treasury’s Long-Term Fiscal External Panel is now available.

The first Panel session, held in August, highlighted that policy adjustments will likely be needed in the decades ahead to ensure public debt levels remain at prudent levels over the longer term. The second session in September scrutinized how the Treasury is proposing to utilise its Living Standards Framework to assess the potential policy reform options that future governments may need to adopt to meet fiscal challenges posed primarily by the ageing of the population.

Professor Bob Buckle, chair of the Panel, said the work of the first two sessions informed discussion at the subsequent sessions which had focused on specific policy areas.

“The third session looked at Crown-funded education, retirement income, and working-age welfare spending. It also examined the long-term outlook for Crown revenues. The fourth and final session for 2012 focused on health care, justice and natural resources,” he said.

Draft research papers on the topics of retirement income, tax, health, long-term care and working-age welfare discussed at the third and fourth sessions are being published on-line together with the summary of the fourth session.

“The general assumption at the Treasury is that governments over the course of this decade will work to return to surplus and reduce net debt to low levels. In doing so, governments will be helping to manage the initial impact of the cost pressures arising out of the permanent ageing structure of the population and other factors.

“Beyond the period of the Government’s Fiscal Strategy, the Treasury’s assessment is that further policy action will be required to deal with cost pressures arising from ageing and other factors.

“It is within this context that the fourth Panel session started to give consideration to the types of stylised policy options or choices that will be presented in the next Long-Term Fiscal Statement. The Treasury won’t be endorsing any particular policy response to the long-term fiscal challenge but it hopes that, by presenting styled packages of options, this will assist to highlight the types of trade-offs future governments will grapple with,” he said.

Notes

Research papers which informed External Panel monthly meetings are draft works-in-progress. Analysis may be refined, amended or strengthened in response to feedback from the Panel, and from other peer-review processes such as the Affording Our Future conference held December 10-11 2012, prior to being used in the Treasury’s next Long-Term Fiscal Statement.

The Public Finance Act requires the Treasury to publish a Statement on the Long-Term Fiscal Position before the end of October 2013.

A summary of session four is available at:
http://www.treasury.govt.nz/government/longterm/externalpanel/session4

The research papers on retirement income, tax and working-age welfare discussed at the third session are available at:
http://www.treasury.govt.nz/government/longterm/externalpanel/session3

The research papers on health and long-term care discussed at the fourth session are available at:
http://www.treasury.govt.nz/government/longterm/externalpanel/session4

The independent External Panel was established in early 2012 to test and challenge the Treasury’s initial research as it works to finalise its next Statement.

The Panel met four times between late August and late November 2012.
More information on the External Panel is available at:
http://www.victoria.ac.nz/long-term-fiscal-external-panel

Papers presented at the Affording Our Future 2012 Conference held December 10-11 2012 are available at:
http://www.victoria.ac.nz/sacl/about/cpf/events/affording-our-future-conference-2012/papers

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Two Dead, One Injured: Suspect Arrested After Ashburton Shooting

Police apprehended Russell John Tully just after 5pm this evening following the armed incident in Ashburton this morning.

Canterbury dog section and AOS apprehended Tully not far from Lake Hood. No shots were fired although Tully will be treated for minor dog-bite injuries.

Tully is now in custody at Ashburton Police Station. More>>

 

Parliament Today:

John Key Press Conference: Ashburton Shootings, Judith Collins Inquiry

Prime Minister John Key has delayed the release of Nationals’ fiscal policy in light of this morning’s shooting at a Work and Income office in Ashburton... Key also answered questions about Judith Collins, and confirmed that independent inquiry will be held with regard to allegations made against Collins. More>>

Gordon Campbell:
On John Key’s ‘Blame It On Judith’ Strategy

Right now, Prime Minister John Key seems intent on limiting the scope of any inquiry into his government’s dealings with Cameron Slater. The declared aim is to make that inquiry solely about Judith Collins’ behavior with respect to the Serious Fraud Office. More>>

ALSO:

Gordon Campbell: On The Debate, And The Collins Accusation

Debating is a peculiar discipline in that what you say is less important than how you’re saying it. Looking poised, being articulate and staying on topic generally wins the day – and on that score, Labour leader David Cunliffe won what turned out to be a bruising encounter with Prime Minister John Key last night on TVNZ. More>>

ALSO:

Gordon Campbell: On Winston Peters' Latest Bout Of Immigrant Bashing

It is only one poll, but rather than cannibalising each other's vote, Colin Craig and Winston Peters do seem to be managing to find the room to co-exist... Few are questioning how Peters got to this happy place, and what it says about the mood of the electorate. More>>

ALSO:

More Immigration News: First People Trafficking Charges

The first people trafficking charges in New Zealand have been brought by Immigration New Zealand (INZ)... The defendants have been charged under the Crimes Act 1961 for arranging by deception the entry of 18 Indian nationals into New Zealand. More>>

Collins 'Misinterprets Media Reports': "Too Compromised To Remain Justice Minister"

Bizarre claims by Judith Collins this morning that she had been cleared of inappropriate behaviour by the Privacy Commissioner demonstrates she is too compromised to remain Justice Minister, Labour MP Grant Robertson says. More>>

ALSO:

Labour On Climate Change: Focus On The Now For The Future

A Labour Government will put in place a comprehensive climate change strategy focusing on both mitigation and adaptation, establish an independent Climate Commission and implement carbon budgeting, says Labour Climate Change spokesperson Moana Mackey. More>>

ALSO:

Gordon Campbell: On National’s Housing Assistance Plan

So, as many as 90,000 people could derive some benefit from National’s housing assistance plans for low and middle-income earners... Yet in reality, the benefits seem likely to be insignificant, and they will be skewed towards those at the top end of the income group that’s supposedly the target. More>>

ALSO:

Election Data Consortium: National’s Worst Case Scenario At Stage One?

A month out from the general election and ipredict traders are still forecasting National’s vote to slip below current polling levels and there is potential for it to fall further. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news