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

 

Deloitte - Budget 2018: The gift that keeps on giving

Deloitte - Budget 2018: The gift that keeps on giving – our economy

Underlying economic indicators strong as Government pivots to ensuring Kiwi wellbeing

Wellington, 17 May 2018 – Deloitte CEO Thomas Pippos says that the rivers of gold may have started to run in Australia but New Zealand isn’t looking too shabby either.

Treasury predictions announced in Budget 2018 are that in 4 years the Government will have $23b more to spend each year than what it has today. A whopping 31% increase.

Mr Pippos says traditionally this type of detail would be front and centre of a budget and it no doubt would have been had the previous Government remained on the treasury benches.

“But there is no point dwelling on the economy that the Government inherited, but rather on the journey to wellbeing that the new Government has more than visibly pivoted to. Not a surprise and similarly not a criticism, as the economy is projected to be the gift that keeps on giving with growth rates the envy of many of our trading partners,” says Mr Pippos.

“Now the thing with the golden goose that is our economy, and accepting that it could always shine more brightly and from more angles, is that it can’t be taken for granted. Revenue projections don’t factor a shock, not that they can, but some form of economic shock will occur at some stage,” he adds.

Budget 2018 presents the economic outlook as generally pretty healthy. It provides the Government with choices including headroom to deal with a shock. While the Government has kept its powder dry in terms of some of the key destinations, it has signalled a material pivot to how it will measure success (being wellbeing) which includes addressing what it has coined social and infrastructure deficits.

As budgets go, the Minister had a much easier run than many of his global colleagues facing their first budget.

“It’s an enviable and in some respects unprecedented position for a new Government. Having money to spend and popular things to spend it on. The hardest decisions were around who should get what. And the greatest disappointments were generally that those that got, didn’t get enough or what they wanted,” concludes Mr Pippos.

For Deloitte’s full Budget 2018 commentary and analysis go to www.deloitte.com/nz/2018budget.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On Finding A Model To Replace The Monarchy


One feels reluctant to pre-empt the verdict of history, but maybe we need to have a Plan B in mind just in case the reign of King Charles III turns out badly. With that possibility in mind, are there any other countries that do a reasonably good job of electing their ceremonial head of state? There is no perfect model for New Zealand to follow but - arguably - Ireland has made a pretty good fist of it over the past 70 years or so. Ireland has roughly the same population as New Zealand, so the pool of talent is similar in size...
More>>



Alastair Thompson: Are There TPLF Ethiopia Insurgency Training & Support Operations in Uganda?


Mystery Document Alleges:
Covert Operation has US/Egypt Support
Operations Coordinated between South Sudan, TPLF and Uganda
Planning began December 2021...

More>>




 
 

Government: Welcomes Climate Change Commission Advice On Agricultural Pricing System
The Government has welcomed advice from the Climate Change Commission assessing readiness in the agricultural sector for an emissions pricing system... More>>

ALSO:

Government: Action To Tackle Delays In Family Court
New legislation aimed at tackling delays in the family justice system, will help improve the wellbeing of thousands of children caught up in Family Court disputes every year, Justice Minister Kiri Allan says... More>>


Prime Minister: Chatham House Speech
What an honour it is to be back in London, and to be here at Chatham house. This visit represents much for me. The reopening of borders and resumption of travel after a difficult few years... More>>


Economy: Financial Statements Of The Government Of New Zealand
Please note the next Financial Statements of the Government of New Zealand to be released will be for the full year ended 30 June 2022. It is anticipated that these will be released in early October 2022... More>>



Government: New Era For Better Health In Aotearoa New Zealand

The Government has today delivered a nationwide health system that will ensure better outcomes for all New Zealanders with the establishment of Te Whatu Ora - Health New Zealand... More>>



Greens: Alcohol Harm Minimisation Bill Pulled From Biscuit Tin

After years of research and advocacy, Parliament will finally consider legislation to take meaningful action on alcohol harm, says the Greens... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels