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

 

Annual Report Shows Raised Ambitions in 2015/16

The Treasury Annual Report Shows Raised Ambitions in 2015/16

20 Oct 2016

The Treasury has published its Annual Report for 2015/16 today. Secretary to the Treasury Gabriel Makhlouf praised the contribution that staff and high expectations have made to a successful year.

“This year we raised our ambition to be a world-leading Treasury, requiring this level of performance if we are to lift New Zealand’s living standards. This also reflects the level of performance we must deliver to be effective within the local and global context in which we operate,” says Mr Makhlouf.

“Overall it was a positive year for the New Zealand economy. In the fiscal year to June 2016, the economy grew 2.8% from the previous fiscal year, and this solid economic performance looks set to continue. Our most recent Budget forecast is for real GDP growth to average a respectable 2.9% between now and June 2020. The Crown’s books are also in a sound state. New Zealand has a broadly balanced Government budget with increasing surpluses expected over the years ahead.

“International economic conditions remain more of a challenge. Our trading partner growth eased in 2015, with China’s growth slowing as its economy transitions from investment to more consumption. This weighed on growth in other Asian trading partners and Australia. Global risks remain skewed to the downside, including persistently low global growth and inflation, uncertainty following the United Kingdom’s vote to exit from the European Union, and geopolitical risks.

“In light of domestic growth but uncertain international conditions, the Treasury will maintain a close eye on the government’s books but also use the opportunities that come with growth to help build a sustainable foundation for New Zealand’s economic prosperity.”

Mr Makhlouf noted several highlights from the Treasury’s work during the year.

“Among our goals is to have the investment approach embedded in modern policy making. In July 2015 a new investment management system came into force that helps ensure there is active stewardship of government resources, and strong alignment between individual investments and the government’s long-term priorities.

“As part of the Treasury’s system leadership role, we have introduced regular Major Projects Performance Reports that improve visibility of challenges and potential risks on projects where significant public funds are being invested. We have also introduced Investor Confidence Ratings, an assessment that looks at the performance of individual agencies in managing their investments and assets.

“I also want to underscore how the Treasury is demonstrating openness – to new ideas and to how we communicate our work. We have taken up the challenge of leadership in the Champions for Change initiative. This reflects our commitment to, and the value we place on, diversity and inclusion.

“No organisation can deliver great work without great people. I want to thank people throughout the Treasury for the professionalism, dedication and enthusiasm they bring to their job every day. Because of their combined efforts the Treasury has much to be proud of over the past year and much to look forward to in the year ahead.”


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On National Being Shafted By Its Own Creation

As it licks its wounds, let’s hope the National Party can still find time to look back with some pride at what it has achieved in Epsom. The Act Party’s nationwide success on Saturday night has been a tribute to National’s foresight, and to its ability to pick winners. Others would have looked at the dying remnants of the old Act Party and written it off. Yet National needed an MMP partner and it saw the potential where no-one else did. And so it re-grew the Act Party in a petri dish in Epsom, and carefully nurtured it back to life... More>>

 

Green Party: 'Fruitful Discussions ... Further Discussions To Have'

The Green Party says there is a negotiation going on with the Labour Party, but there are more discussions to be had. More>>

ALSO:


Border: No Changes To Border Exemptions After Fishing Crew Test Covid-19 Positive

The cases were detected after routine day three testing but the immigration minister and air commodore agree there's no need to change border exemptions. More>>

PSA: Labour-Led Government Has Mandate For Transformation, Equality And Transparency

The Public Service Association welcomes the progressive electoral landslide New Zealand voters delivered on Saturday, and the union says its members look forward to implementing policies that reduce poverty and inequality, support affordable housing ... More>>

ALSO:

Poll: Labour On 46%, National 31%, While Greens And ACT Both On 8%

Tonight's political poll puts Labour on 46 percent and National on 31 percent with just one day remaining until election day. More>>

ALSO:


Stats NZ: New Report Shows Significant Changes To New Zealand’s Climate

Climate change is already happening in New Zealand and could have a profound impact on future generations of New Zealanders, a new report from the Ministry for the Environment and Stats NZ says. Our atmosphere and climate 2020 , released today, includes analysis ... More>>

ALSO:

Judith Collins: Obese People Must Take Responsibility For 'personal Choices'

National Party leader Judith Collins has described obesity as a weakness and says people should not 'blame systems for personal choices'. More>>

Māori Party: Poll Reveals Tamihere On Cusp Of Historic Māori Movement Election Victory

John Tamihere’s election campaign is on the rise and on track to return the Māori Party to parliament, a new Māori TV poll has revealed. The poll released on 11 October during the seventh and final Māori TV Maori Electoral campaign coverage has Tamihere ... More>>

Gordon Campbell: On Four-Year Terms Of Parliament, And On How The US Courts Are Dismantling Democracy

Last week, the issue of four-year parliamentary terms surfaced again. Infuriatingly, it is being discussed purely in terms of its convenience for political parties. They’d get so much more time to enact their policies, free of scrutiny or sanction by voters ... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels