The operating balance before gains and losses (OBEGAL) for the seven months to January was a surplus of $77 million, driven by higher than expected tax revenue and lower than expected operating expenses, Finance Minister Bill English says.
Leading credit rating agency Moody’s Investors Service has reaffirmed New Zealand’s Aaa sovereign credit rating with a stable outlook, noting the strength of the economy and improving government finances.
The Government is backing the recommendations of the NZ Data Futures Forum to make better use of public data and uphold privacy standards, Finance Minister Bill English and Statistics Minister Craig Foss say.
Around 7,500 new houses are expected to be built in the Auckland suburb of Tāmaki over the next decade as part of the Government’s programme of increasing and speeding up new housing developments, Finance Minister Bill English says.
The Government has appointed 12 New Zealanders as members of the Flag Consideration Panel which will engage with the public about a possible new New Zealand flag, Deputy Prime Minister Bill English says.
Higher than expected tax revenue and lower than expected operating expenses contributed to an operating balance before gains and losses (OBEGAL) deficit of $990 million for the six months to December, Finance Minister Bill English says.
This is my seventh opportunity to talk to this audience, which reflects both the stability of this Government and the opportunity provided by a clear election mandate to embed changes in public services.
The Government has set itself ambitious new targets including 75,000 fewer New Zealanders being on benefits by June 2018 as part of its Better Public Services drive, Finance Minister Bill English and State Services Minister Paula Bennett say.
The 2014/15 Open Data Barometer Global Report shows that New Zealand continues to be one of the best countries in the world at allowing open access to government data, Finance Minister Bill English and Land Information Minister Louise Upston say.
Lower than expected operating expenses and higher than forecast customs and excise duties contributed to an operating balance before gains and losses (OBEGAL) deficit $121 million better than forecast for the five months to November, Finance Minister Bill English says.
New Zealand’s economy remains one of the fastest growing in the developed world, confirming that the Government’s economic programme is taking New Zealand in the right direction, Finance Minister Bill English says.
The Government believes an OBEGAL surplus is achievable this financial year, despite Treasury’s latest forecast today predicting a $572 million deficit (0.2 per cent of GDP) for the year to 30 June 2015, Finance Minister Bill English says.
New Zealand remains on track for solid economic growth, more jobs and rising incomes over the next few years, but falling dairy prices and low inflation will make returning to surplus this year challenging, Finance Minister Bill English says.
The Crown accounts for the first three months of the current financial year are broadly consistent with forecasts, but at the same time highlight the challenge of returning to surplus, Finance Minister Bill English says.
Cabinet has agreed on the details of the flag referendum process and every political party represented in Parliament has been invited to take part, say Prime Minister John Key and Deputy Prime Minister Bill English.
Delivering better public services continues to be one of the National-led Government’s four key priorities for this term. We understand that New Zealanders and their families expect the Government to spend their hard-earned taxes on the things that matter to them.