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The 10 results set by the Prime Minister for the public sector over the next three to five years focus on some of the biggest challenges facing New Zealand, Finance Minister Bill English and State Services Minister Jonathan Coleman say.

The results will cover five themes:

The Government will focus on six key areas over the next three years to help companies grow and to build a more productive and competitive economy, Finance Minister Bill English and Economic Development Minister Steven Joyce say.

Building a more competitive economy is one of four main priorities the Prime Minister has outlined for the Government in this term.

The Government has appointed board members to two new Crown companies - Southern Response Earthquake Services Ltd and Crown Asset Management Ltd – and reappointed Reserve Bank chairman, Arthur Grimes.

Southern Response Earthquake Services Ltd is the renamed residual parts of AMI Insurance that will remain in Government ownership once the sale of AMI Insurance’s non-Christchurch earthquake related business is finalised.

A new public-private partnership (PPP) prison at Wiri, South Auckland, will provide improved facilities, better services and a tighter focus on results, Finance Minister Bill English and Corrections Minister Anne Tolley say.

The Government has chosen a consortium of companies, SecureFuture, to design, finance, build, operate and maintain the new 960-bed facility, which is needed to meet growing demand for prisoner accommodation in Auckland.

A report benchmarking the administrative and support functions of state sector agencies shows they are starting to control their back office costs, but there is room for improvement, Finance Minister Bill English says.

Delivering better public services to New Zealanders is one of the Government's main priorities over the next three years.

The Ministerial Committee on Poverty met for the first time last night, with ministers reaffirming their focus on providing opportunity for low income New Zealanders and getting better results from spending on social services.

"The Government's focus in tackling poverty is on providing opportunity – through things like better education and jobs," Deputy Prime Minister and committee chairman Bill English said.

Lower than forecast tax revenue in the seven months to 31 January, reinforces the need for the Government to responsibly manage its spending, Finance Minister Bill English says.

Core Crown tax revenue was $946 million below the Pre-Election Economic and Fiscal Update forecast in the latest monthly Financial Statements of the Government. Revenue was $1.4 billion lower overall, but was offset by lower core Crown expenses of about $1.24 billion.

The Government will today introduce legislation supporting its mixed ownership programme, which will help get on top of debt and pay for priority new public assets like modern schools and hospitals.

Minister for State Owned Enterprises Tony Ryall is introducing the new legislation and confirmed the Government is aiming to undertake the first initial public offering – for Mighty River Power – around the third quarter of this year.

The Government will deliver Budget 2012 on Thursday, 24 May, Finance Minister Bill English announced today.

“It will focus on implementing the Government’s clear and comprehensive plan to build a more productive and competitive economy,” he says.

Within that plan, the Government has set out its priorities. They are:

SETTING OUR PRIORITIES
Click here to watch my latest briefing video on YouTube.

Opponents of the Government’s mixed ownership programme need to explain to New Zealanders why it would be better to borrow an extra $5 billion to $7 billion from overseas lenders, Finance Minister Bill English says.

Speaking to an Auckland Chamber of Commerce and Massey University business lunch today, he said the challenge was how the Government pays for forecast growth in taxpayers’ assets over the next few years.

Good afternoon. It’s a pleasure to join you here today.

My thanks to Michael and the Auckland Chamber of Commerce, and Steve and Massey University, for inviting me back to this annual event.

It’s now almost three months since John Key’s National-led Government was returned for a second term.

So today I want to outline the cornerstones of the policy programme you can expect from the Government over the next three years.

The Government has completed consultation with Maori on removing the mixed ownership companies from the State Owned Enterprises (SOE) Act and will make decisions on new legislation in coming weeks, Finance Minister Bill English and SOE Minister Tony Ryall said today.

"We've completed 10 hui around the country and received about 200 written submissions. It's been an excellent process where Ministers and iwi and hapu have been able to exchange views," the ministers said.

Lower Government spending has offset lower than expected tax revenue, helping keep the Government's finances on track in the six months to 31 December 2011, Finance Minister Bill English says.

The Crown accounts show tax revenue was $400 million below forecast and revenue $743 million lower overall. However this was offset by lower core Crown expenses of $887 million, leaving the operating balance before gains and losses close to forecast.

The Budget Policy Statement issued today confirms the Government’s clear economic plan for the next three years – including a return to budget surplus and starting to reduce net debt, Finance Minister Bill English says.

“The Government has a comprehensive policy agenda, which will guide Budget priorities over the parliamentary term,” he says.

The main priorities are:

Good evening.

It's just over a year since Prime Minister John Key first outlined the Government's plans to sell minority stakes in its four energy companies and Air New Zealand.

Since then, there has been plenty of noise - mainly from our political opponents. So today I'd like to go back over the reasons why the Government is proceeding with mixed ownership.

The rationale is fairly simple - mixed ownership is a win-win for New Zealand.

Core Crown tax revenue was about $500 million below forecast in the five months ending 30 November, reinforcing the need for ongoing spending restraint and responsible fiscal management, Finance Minister Bill English says.

“The Government is committed to reducing its deficits over the next two years and returning to surplus in 2014/15,” he says. “This won’t be easy, particularly with ongoing debt problems in Europe reducing forecasts for global growth.

The Government has announced a series of hui to consult with Maori on legislative changes it considers are necessary for the float of minority shareholdings in four State Owned Enterprises to New Zealanders.

Finance Minister Bill English and State Owned Enterprises Minister Tony Ryall will lead the February consultation process with iwi around the country, which will be facilitated by Sir Wira Gardiner.

The economy posted solid growth in the September quarter, despite considerable global uncertainty, Finance Minister Bill English says.

Statistics New Zealand today confirmed gross domestic product (GDP) grew by 0.8 per cent in the September quarter. The economy has grown in nine out of the past 10 quarters. GDP grew by 1.9 per cent over the last year.

IAG's agreement to purchase AMI Insurance, announced today, will strengthen the Canterbury insurance market and reduce the Crown's liability, Finance Minister Bill English says.

As part of the deal, the Crown will take over ownership of AMI Insurance’s Canterbury earthquake related claims.

"The part of AMI dealing with earthquake claims – along with its reinsurance for those events - will be retained as a new Crown company and will continue to manage AMI's customers' earthquake claims," Mr English says.

The Government has confirmed the next steps in its mixed ownership programme to offer New Zealanders minority shareholdings in four state-owned energy companies and Air New Zealand.

Cabinet has agreed that Mighty River Power should be the first company prepared for an initial public offering (IPO), most likely in the third quarter of 2012, subject to market conditions, Finance Minister Bill English and State Owned Enterprises Minister Tony Ryall said today.