Government budgets used to be about micro-managing things like tax hikes increasing the prices of cigarettes & beer & petrol. They’re still about micro-managing, with some subtle touches.
New finance minister Steven Joyce looks to have increased the annual allocation to capital infrastructure spending from $900 million to $4 billion for the 2016-17 financial year, with the promise of upping the budget for the following 3 years by $4.3 billion.
The Government cut its operating deficit before gains & losses by more than half in the June year, from a $9.2 billion deficit in 2012 to a $4.4 billion deficit, after collecting more tax and reducing core Crown expenses below forecast.
Published 20 May 2011 Main points in the Budget Finance Minister Bill English delivered yesterday: Net debt to stay below 30% of gdpReturn to surplus in 2015Government to resume NZ Super contribution 2016$5.5 billion Canterbury recovery fund$5.2 billion public operating savings identified$4 billion redirected to new social initiativesGovernment to reduce ownership in 4 SOEs & […]
Published 21 May 2010 Finance Minister Bill English & Revenue Minister Peter Dunne said in the Budget that changes to the tax treatment of investment property would increase fairness and help rebalance the economy towards productive investment. Property tax measures include: denying depreciation deductions for buildings, such as rental housing & office buildings, with […]
Published 21 May 2010 Finance Minister Bill English said yesterday his 2010 Budget focuses squarely on faster growth, helping families get ahead and setting a credible path for getting back to surplus sooner. But even on this plan, a surplus is a long way off. He said it also delivered the biggest reform of […]