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

 


Budget 2014: Ready to Rise

Budget 2014: Ready to Rise


Despite carefully managed pre-budget expectations, Budget 2014 has delivered two surprises; a surplus of $372m in 2015, appreciably higher than the wafer thin surplus expected; and when taken over a four period, higher planned new spending in health, education and welfare than was expected.

The higher surplus despite extra spending comes as a result of a forecast of strong economic growth of 3% in 2015 rising to 4% in 2016.

On the back of that strong economy the Government has announced it will increase new spending in future budgets at around $1.5bn a year, half a billion dollars a year more than the 2014 budget allowance of $1bn.

Budget 2014 forecasts rising surpluses over the next 4 years reaching $3.5bn in 2018. These surpluses are committed to future capital and infrastructure expenditure.

Net debt peaks at $65bn and then is held their while the economy grows. As a result, net debt is forecast to have reduced to the Government’s target of 20% of GDP by 2020.

“We welcome the return to surplus and the forecast of future surpluses.” PwC Chief Executive Officer Bruce Hassall says. “This enables New Zealand to reduce our debt load and rebuild buffers against unknown future shocks”.

“New Zealand business will welcome a stable fiscal outlook that will allow the economy to grow in a controlled fashion without creating too much pressure on inflation, interest rates and the exchange rate.”

“New Zealanders will also welcome further assistance targeted at those who need support.”

“Budget 2014 strikes a good balance between fiscal prudence and Government spending in an economy that is ready to rise” concludes Mr Hassall.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Mt Albert Aftermath

Personality politics – Jacinda is great! Jacinda is not so great! – have dominated the coverage of the Labour Party’s fortunes this week...

Still, this is a relatively new and welcome problem for the centre-left. Labour has seemed so bereft of crossover talent for so long that it seems almost embarrassed by this latest development. More>>

 

Conservation: Central Govt Takes Over 1080 Regulation

“This new approach standardises the rules for using such poisons rather than the current system of different rules in different regions. This change will reduce costs and delays for operators, ensure consistent conditions throughout the country, reduce mistakes from misunderstanding rule differences and allow best practice approaches to be used." More>>

ALSO:

Election Entertainments: ACT Has Prison Plan, Greens Have Water Bill

Green Party launches Member’s Bill to protect our freshwater The Green Party has today launched a member’s bill that will keep water from underground sources, called aquifers, safe from pollution and contamination. More>>

ALSO:

2040 Target And Lower Standards: “Swimmable” Rivers Five Times More Likely To Make You Sick

Forest & Bird has condemned the government’s new water quality standards, warning New Zealanders that they lock in current levels of water pollution and allow for a 5-fold increase in the chance of getting sick from swimming in a river. More>>

ALSO:

Immigration: Clampdown On Rogue Employers Good First Step

The Human Trafficking Research Coalition is pleased at the new clampdown on rouge employers who exploit migrants announced by Minister Woodhouse this morning, and believes this is a step in the right direction. More>>

ALSO:

Mayor: 750 New Social And Affordable Homes For Wellington (Over A Decade)

The next stage of Wellington’s Housing Upgrade Programme will see at least 750 new units of social and affordable housing built over the next decade, Mayor Justin Lester has announced. More>>

ALSO:

22/2: Christchurch Quake Memorial Unveiled

A city, a region, a nation and an international community impacted by the Canterbury Earthquakes will come together to mark the sixth anniversary of the deadly quake and dedicate Oi Manawa Canterbury Earthquake National Memorial. More>>

ALSO:


November Quakes:

Gordon Campbell: On The Mana-Maori Party Deal

If the self-interest involved wasn’t so blatant, the electorate deal between the Maori Party and Hone Harawira would be kind of poignant. It’s a bit like seeing the remaining members of Guns’n’Roses or the Eagles back on the road touring the nostalgia circuit… playing all the old hits of Maori unity and kaupapa Maori politics. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news