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

 

External Panel feedback on draft Long-Term Fiscal Statement

External Panel gives feedback on draft Long-Term Fiscal Statement

On 11 March, the Long-Term Fiscal External Panel reviewed a first draft of the Treasury’s 2013 Statement on the Long-Term Fiscal Position. The Treasury established the External Panel to strengthen the quality of its analysis prior to the publication of the 2013 Statement.

Bill Moran, who is leading the Treasury’s Long-Term Fiscal project, said that he found the Panel’s feedback on the draft Statement very helpful.

“The Panel emphasised to us that there are a number of messages that need to come through very clearly in our next Statement,” said Mr Moran.

“One of the key messages is about risk. As a small, open economy, New Zealand is particularly vulnerable to shocks of different kinds. We need to make sure we have low public debt, making us more resilient in the future. The next 15 years are crucial. That means we need to get on top of pressures associated with an ageing population now.

“The Panel also encouraged us to draw out the intergenerational impacts of different policy options. We are in a transition period where we are seeing fundamental changes to the structure of our population. This transition means that we need to rethink our implied intergenerational contract. There is no ‘right’ answer about what is fair to different generations, but we need to at least highlight the fact that different policies have different impacts.”

Professor Bob Buckle, the Chair of the Panel, was pleased with how the session went. “Members of the Panel appreciated the opportunity to provide feedback on the analysis in the Treasury’s draft Long-Term Fiscal Statement. The Treasury clearly appreciated the thoughtful contributions that members of the panel made during this session.”

At the same session, Professors John Creedy and Norman Gemmell, both of Victoria University, presented a draft paper examining whether a version of fiscal drag – people moving into higher tax brackets as their real wages rise with economic growth – could help fund some of New Zealand’s future fiscal pressures. That draft paper is now available on the Victoria University Chair in Public Finance website.

The Panel will meet again on 11 April to consider a revised draft of the Statement.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

KiwiBailed: KiwiBuild Head Officially Resigns

The head of Kiwibuild, Stephen Barclay has officially resigned from the role. In a statement issued on his behalf, it was announced that he would step down from today [Friday].

Housing Minister Phil Twyford's office said he would not be commenting on Mr Barclay's resignation as it was an employment matter. Last month, Mr Twyford confirmed that Mr Barclay had not been at work for a number of weeks. More>>

 

Welfare Stats: Rise In Hardship Numbers Shows Income Inadequacy

The latest Ministry of Social Development quarterly report show that a record number of people have received hardship assistance from work and income, with an additional 40,000 hardship payments made between September and December 2018, compared to the previous quarter of the same year... More>>

ALSO:

DHBs "Prepared": Junior Doctors Strike Again

The needs of acute patients will be met during tomorrow's junior doctor strike, a DHB spokesperson says... Almost 3000 junior doctors are expected to walk off the job, which will affect all DHBs apart from West Coast District Health Board. More>>

ALSO:

Gordon Campbell: On MBIE’s Social Media Scam

Given the ambit of MBIE’s work, almost any form of social activity could qualify as being part of MBIE’s brief, so the privacy threats posed by this training programme are extensive. The current oversight safeguards seem threadbare to non-existent. More>>

ALSO:

JusTrade: New Campaign For A 21th Century Trade Agenda

‘Critique is no longer enough. If anything is to really change, we need to step away from the existing framework and take a first-principles approach to rethinking what will work for the 21st century.’ More>>

Earlier:

Gordon Campbell: Thompson + Clark Are The Tip Of The Iceberg

How can we tell where and how any lines are being drawn? Oversight is not exactly robust. If it were, Thompson + Clark would have been out of contention for state security work ten years ago. More>>

Trainers: Taratahi Institute of Agriculture In Interim Liquidation

Taratahi employ 250 staff and this year has provided education to over 2500 students. Taratahi owns and manages 8 farms throughout the country. More>>

ALSO:

IPCA Report: Complaints About Deputy Commissioner Wallace Haumaha

The Authority has found that DC Haumaha acted improperly by approaching staff and others to provide information to support him to refute the allegations about his 2016 conduct, or solicited other staff to do so on his behalf... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels