Proceeds from the Government’s share offer programme provide a further $939 million of new capital investment in Budget 2015 without the need to borrow more from overseas lenders, Finance Minister Bill English says.
It’s a privilege to present the National-led Government’s seventh Budget. New Zealand has come through significant challenges and is now a more confident and resilient country than it was seven years ago. Successive Budgets have sought to put New Zealand on a track to surplus and debt reduction, and as a result the Government’s books are in good shape.
A package of measures aimed at reducing hardship among children in New Zealand’s lowest-income households is at the heart of new spending announced in the Budget today, Finance Minister Bill English says.
Budget 2015 includes a $790 million package to reduce hardship among children in New Zealand’s poorest families, as the next step in the Government’s commitment to address the long-term drivers of deprivation.
The Government is taking extra steps to bolster the tax rules on property transactions – including those by overseas buyers - and to help Inland Revenue enforce them, Finance Minister Bill English and Revenue Minister Todd McClay say.
Tauranga and Invercargill have been selected as the first regions for the proposed transfer of Housing New Zealand Corporation (HNZC) houses to registered Community Housing Providers (CHPs), Ministers Bill English and Paula Bennett say.
Ownership and management of approximately 2800 Housing New Zealand Corporation (HNZC) properties at Tamaki will be transferred to the Tamaki Redevelopment Company (TRC) to encourage regeneration of the area, Finance Minister Bill English and Housing Minister Dr Nick Smith say.
Finance Minister Bill English will visit Australia this week, where he will take the opportunity to hear first-hand from business and industry leaders their thoughts about the relative strengths and weaknesses of the Australian economy.
The Crown accounts have slipped back to a deficit of $269 million in the eight months to February, making the previous month’s flirtation with surplus short-lived but nevertheless encouraging, Finance Minister Bill English says.
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.