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In Budget 2012 the Government will be focused on rebalancing our overall spend in tertiary education between expenditure on student support and investment in tuition and research.

We have one of the most generous student support systems in the world.  Rebalancing it a little will free up some money that we reinvest in the quality of tertiary education we provide, and help our overall fiscal position.

Ladies and Gentlemen.

Good afternoon and thank you for coming to this pre-Budget speech.

I want to thank Business New Zealand for hosting this event today. And I want to thank them for the very constructive role they play in representing New Zealand businesses and employers.

Budget 2012 will show the Government is on track and sticking to its plan.

As Bill English said in a speech a few days ago, we are set to post an operating surplus in 2014/15.

Good afternoon. Thank you to the Wellington Employers’ Chamber of Commerce for inviting me back to speak to you again this year – it’s a pleasure to be here.

Our ministers value opportunities like this to share ideas about how we can meet the challenges we face as a nation - and how we can grasp the many opportunities we have.

So I look forward to your comments and questions at the end of this session.