Tags : Finance

Economic resilience shown in Crown accounts

The Government’s books show that the New Zealand economy is continuing to display resilience in the face of the ongoing impact of COVID-19. The Crown accounts for the eleven months to the end of May 2021 show the operating balance before gains and losses (OBEGAL) was a deficit of $3.6 billion, $5.8 billion better than forecast […]readmore

NZ Upgrade Programme kept on track

26 out of 32 projects go ahead unchanged An additional $1.9 billion invested in programme to assist with COVID cost pressures and support economic recovery Some projects re-scoped to reduce carbon emissions The Government is increasing its investment in the New Zealand Upgrade Programme (NZUP) to support New Zealand’s economic recovery. Over two thirds of […]readmore

Crown accounts reflect Govt focus on securing recovery

The Government’s ongoing support to secure the economic recovery continues to be reflected in the Crown’s financial accounts. The Crown accounts for the ten months to the end of April 2021 show both the operating balance before gains and losses (OBEGAL) and the operating balance are better than forecast in Budget 2021 in May. The OBEGAL was […]readmore

OECD report card shows NZ a strong performer

The OECD’s latest review of the New Zealand economy shows growth picking up due to the Government’s ongoing support to secure the recovery from the effects of COVID-19. “The OECD Economic Outlook notes New Zealand is expected to be one of the stronger performers in the OECD, with a robust rebound due to our swift […]readmore

Speech – Budget 2021

Mr Speaker Over the last few weeks the leader of the opposition has had a habit of calling almost every document she happens upon a secret agenda.  A commissioned piece of work. A publicly available document on a website.  And more recently, her own caucus minutes. I thought I’d get in front of any such […]readmore

Budget shows stronger than expected economic recovery

 Economic growth expected to rise from 2.9 percent this year to 4.4 percent in 2023.·         Projected 221,000 more people to be in employment over the forecast period, with unemployment set to decrease to 4.2 percent.·         Deficit to fall from 5.3 percent of Gross Domestic Product (GDP) in 2022 to 0.6 percent by the end of the forecast period […]readmore

An economic recovery for all New Zealanders

Projected 221,000 more people to be in employment over the forecast period, with unemployment set to decrease to 4.2 percent.·         Up to 33,000 children to be lifted out of poverty on the after housing costs measure, benefits boosted by between $32 and $55 a week.·         $57.3 billion infrastructure investment over five years, including $11.6 billion for housing.Budget […]readmore

KiwiSaver default provider scheme improvements slash fees, boosts savings

Hundreds of thousands of New Zealanders will be significantly better off in retirement following changes to the default KiwiSaver scheme, Finance Minister Grant Robertson and Commerce and Consumer Affairs Minister David Clark said today. The new default provider arrangements, which will take effect once the terms of the current providers ends on 30 November 2021, […]readmore

Pre-Budget speech to Business New Zealand

Kia ora koutou katoa It’s great to be here today, at our now-regular event in anything-but-regular times. I last spoke to some of you in mid-March. That was an opportunity to reflect on an extraordinary 12 months, but also to reflect on how the future was shaping up. In what has truly become a sign […]readmore

Pre-Budget speech to BNZ-Deloitte Auckland Breakfast Event

Thank you for the invitation to speak to you today, and to share with you some of the Government’s thinking leading into this year’s budget. This will be my fourth time delivering the annual Budget for the Government, though the events of the past year have thrown out that calculation. As we grappled with COVID […]readmore