Displaying 1 - 24 of 69 results.

Solid economic growth in recent months confirms the Government’s programme of economic management is on track to deliver more jobs and ongoing wage rises for New Zealanders, Finance Minister Bill English says.

Statistics New Zealand reported Gross Domestic Product expanded by 0.9 per cent in the three months to September – slightly higher than Treasury’s Half-Year Update forecast of 0.6 per cent.

This meant annual economic growth was 2.3 per cent since September 2014. Average annual growth was 2.9 per cent.

  • Bill English
  • Finance

Treasury’s latest forecasts show ongoing improvement in the Government’s books – reflecting a continued focus on responsible fiscal management, Finance Minister Bill English says.

  • Bill English
  • Finance

The Government is making good progress in providing better social services by publically releasing data which will assist its agencies – and the social sector - understand the needs of the most vulnerable New Zealanders, Finance Minister Bill English says.

“Reducing misery, rather than servicing it, requires a deep understanding of drivers of social dysfunction. Good information will enable the Government to better help vulnerable people make positive changes to their lives and become more independent.”

  • Bill English
  • Finance

Catherine Savage has been named as the Chair of the Guardians of New Zealand Superannuation Board, replacing current Chair Gavin Walker, who has resigned, Finance Minister Bill English has announced.

Ms Savage begins her tenure as Chair on 1 January 2016 for a term of just over three years, while Mr Walker’s term will end on 31 December 2015.

“I’d like to thank Gavin for his strong professional and personal leadership during his tenure,” Mr English says.

  • Bill English
  • Finance

New Zealand has formally became a member of the Asian Infrastructure Investment Bank (AIIB) Finance Minister Bill English says.

Ratification by members with 50 percent of the capital of the AIIB is needed for it to establish operations. New Zealand’s ratification will contribute to the organisation reaching the 50 percent threshold needed for the AIIB to establish operations.  This is expected to take place by mid-December.

This follows the passage of the International Financial Agreement Amendment Act here in New Zealand in November.

  • Bill English
  • Finance

Data released today by Treasury and Figure.NZ makes is even easier for the public to dig into the Crown’s books for details on its spending and revenue, Finance Minister Bill English says.

  • Bill English
  • Finance

Finance Minister Bill English says the release of two reports today on its investment practices and the performance of its major investment projects provide an overview to the public for the first time.

The annual report Managing Government Investment Projects 2014-15 - the first of its kind – provides a snapshot of the Government’s overall investment programme and the recently implemented changes to the way it is managed.

  • Bill English
  • Finance

Finance Minister Bill English today welcomed the passing of the International Finance Agreements Amendment Bill, which enables New Zealand to become a founding member of the Asian Infrastructure Investment Bank.

The Bank is a China-led initiative which is being established to address a gap in new infrastructure across Asia. Its purpose is to foster sustainable economic development and to promote regional co-operation and partnership.

  • Bill English
  • Finance

Finance Minister Bill English and Tertiary Education, Skills and Employment Minister Steven Joyce have asked the Productivity Commission to review new and emerging models of tertiary education.

“The tertiary education sector has adapted to significant change over the past 20 years and is continuing to change all the time,” says Mr English.

  • Steven Joyce
  • Bill English
  • Tertiary Education, Skills and Employment
  • Finance

The Government has asked the Productivity Commission to review urban planning rules and processes, and identify the most appropriate system for land use allocation, Finance Minister Bill English says.

“Urban planning in New Zealand not only underpins housing affordability but also the productivity of the wider economy,” Mr English says.

“Many parts of the regime are out-dated and unwieldy, having been developed over the years in a piecemeal fashion. International best practice has moved on and so must New Zealand.”

  • Bill English
  • Finance

Finance Minister Bill English will travel to Sydney tomorrow to meet with new Australian Treasurer Scott Morrison.

“The New Zealand and Australian economies have many similarities – our proximity to growth in Asia, our strength in commodity exports, and most recently our increased partnership through the TPP trade agreement,” Mr English says.

“Australia is our largest trading partner. When Australia does well, we do well – so it is important to understand the prospects for the Australian economy and the views of its policy makers.”

  • Bill English
  • Finance

Finance Minister Bill English and Statistics Minister Craig Foss today named the working group responsible for leading the new Data Futures Partnership.

“The Data Futures Partnership is an exciting opportunity to potentially deliver economic and social value for New Zealand by solving issues that limit trusted data-use and innovation,” Mr English says.

“I’m confident this diverse group of people has the knowledge and experience necessary to understand the issues and look for innovative solutions.”

  • Bill English
  • Craig Foss
  • Finance
  • Statistics

Thank you for inviting me today.

It’s a pleasure to speak to the Trans-Tasman Business Circle again.

Yesterday I announced that the Government had achieved one of its key fiscal targets, posting a surplus of $414 million in 2014/15.

That was the culmination of years of focus on a target that has brought discipline to spending.

But it is far from the end of the road for our programme of responsible fiscal management.

  • Bill English
  • Finance

Slowing growth in the global economy highlights the need for ongoing fiscal restraint, Finance Minister Bill English said in a speech to the Trans-Tasman Business Circle in Wellington today.

“Reaching surplus was a significant milestone, and one the public service can be proud of. But the job is far from done – we now need to focus on getting debt down,” Mr English says.

  • Bill English
  • Finance

The Government has reported an operating surplus in the fiscal year that ended on 30 June, meeting a target set in 2011 following the Canterbury earthquakes and the international financial crisis, says Finance Minister Bill English.

The OBEGAL surplus of $414 million in the year to 30 June 2015 is equal to 0.2 per cent of GDP and the Government’s operating balance inclusive of gains and losses was a surplus of $5.8 billion or equal to 2.4 percent of GDP.

  • Bill English
  • Finance

The OECD last night released its final package of actions to address base erosion and profit shifting (BEPS). The Minister of Finance Bill English, and Minister of Revenue, Todd McClay say that the plan, representing two years of intensive work by the OECD and G20 nations will be a significant step forward in the fight against BEPS.

“BEPS behaviours can result in multinationals paying little or no tax anywhere in the world, so this announcement is a big step forward and the culmination of over two years’ work by the international community” Mr English says.

  • Todd McClay
  • Bill English
  • Revenue
  • Finance

Minister of Finance Bill English and Economic Development Minister Steven Joyce today announced that six banks have been awarded contracts for the supply of All-of-Government (AOG) banking services, with Westpac to provide the Crown Transactional Banking services.

“It has been more than 25 years since government banking services have been put out to tender,” Mr English says. “Over this time there has been considerable evolution in the banking and financial services sector.

  • Steven Joyce
  • Bill English
  • Finance
  • Economic Development

Finance Minister Bill English leaves for Mexico City tomorrow before carrying on to Lima ahead of the International Monetary Fund and the World Bank Group’s annual meetings in his capacity as a Governor of both institutions. 

The annual meetings bring together finance ministers, central bankers, private sector executives, civil society and academics to assess global economic and financial issues.

  • Bill English
  • Finance

Thank you very much for the welcome.

I want to talk about the way that we approach economic policy in one area in particular – the housing market.

It’s certainly been topical lately.

The Government takes the approach that the best thing we can do for the economy is work to improve its resilience – its capacity to adapt.

That’s important because in New Zealand we have had times when our economy has not been resilient, when price signals have not been clear until it is too late – at which time they become extraordinarily clear.

  • Bill English
  • Finance

Good afternoon, and thank you for having me here today.

It is a pleasure to launch this Treasury Guest Lecture Series focused on social investment.

As some of you may know, I actually started my public sector career at Treasury as a graduate in 1987.

It’s good to see so many people from other government agencies, tertiary institutions, NGOs and the private sector in the room.

I’m here today to talk about social services, particularly for the most vulnerable New Zealanders.

  • Bill English
  • Finance

An overseas company’s application to purchase Lochinver Station has been declined because the benefits to New Zealand are not substantial and identifiable, Ministers Paula Bennett and Louise Upston say.

Pure 100 Farm Ltd, a subsidiary of China-based Shanghai Pengxin, applied to the Overseas Investment Office (OIO) last year to buy the 13,800 ha farm near Taupo for $88 million.

  • Louise Upston
  • Paula Bennett
  • Land Information
  • Finance

The Productivity Commission’s latest report on social services in New Zealand will be a valued input into the Government’s ongoing programme of public sector reform, Finance Minister Bill English and State Services Minister Paula Bennett say.

The Commission found there are significant opportunities to improve the support given to the most vulnerable New Zealanders.

“The Government agrees with the Commission’s analysis of the weakness in our current social delivery systems,” Mr English says.

  • Paula Bennett
  • Bill English
  • State Services
  • Finance

Associate Finance Minister Paula Bennett leaves today to visit Indonesia and the Philippines for a range of meetings promoting strong regional ties in Asia and the Pacific.

In Indonesia, the Minister will be guest of honour at the NZ-ASEAN 40th Anniversary Awards event where she will present awards to seven Indonesians who have significantly contributed to deepening New Zealand’s relationship with Indonesia and the ASEAN region. 

  • Paula Bennett
  • Finance

The Government has today signed a Terms of Reference with Auckland Council, setting out how central and local government will work together to agree on an approach to develop the city’s transport system.

“Over 700,000 additional people are expected to live in Auckland by 2045,” Mr English says.

“Long-term solutions for Auckland’s transport system are central to ensuring it remains a great place to live and do business, and it is also important for the economy as a whole.”

  • Simon Bridges
  • Bill English
  • Transport
  • Finance