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New Zealand’s economic recovery remains on track, despite figures today showing a small contraction in gross domestic product in the September quarter, Finance Minister Bill English says.

“Before this result, we had seen five consecutive quarters of growth since coming out of a deep recession. I’ve said all along that this recovery would be a bit bumpy at times, and that’s proved to be the case.

Budget 2011 will ensure the Government plays its part in improving New Zealand’s national savings by controlling spending increases and setting a credible path back to budget surplus, Finance Minister Bill English says.

“The Budget next year will clearly outline the next steps in the Government’s programme to lift economic growth, with a particular focus on improving national savings and reducing our reliance on foreign debt,” he said in releasing the Budget Policy Statement and Half Year Economic and Fiscal Update.

The Government's first Investment Statement will drive improvements in the Crown's investment decisions and how it manages its $223 billion of assets and $128 billion of liabilities, Finance Minister Bill English says.

“Effective management of the Crown's assets and liabilities and making the best investment decisions is important if we are to realise our economic goals and deliver better public services,” Mr English says.

A new directive letter to the Overseas Investment Office provides extra clarity and certainty for potential investors about the Government’s general approach to foreign investment in sensitive assets, Finance Minister Bill English says.

The letter sets out the changes to regulation the Government announced in September to address concerns around large scale overseas ownership of farm land and vertically integrated primary production companies.

A new report analysing results from government-owned companies and investment funds will help improve their performance, Finance Minister Bill English and State Owned Enterprises Minister Simon Power say.

The Treasury’s Crown Ownership Monitoring Unit today published the first of what is expected to be a series of annual publications about the performance of the 37 Crown-owned entities that have full or partial commercial objectives.

Proposed new tax rules, released today, will increase the integrity of the tax system and help ensure everyone pays their fair share, Finance Minister Bill English and Revenue Minister Peter Dunne say.

Mr Dunne today released a Supplementary Order Paper (SOP) that will introduce several Budget 2010 tax measures to the Taxation (GST and Remedial Matters) Bill, which is nearing its final stages in Parliament. MPs are expected to debate the amendments on Thursday.

The proposed changes, which have been finalised after public consultation over the past few months, will:

Larger than forecast deficits in the Crown's financial statements reinforces the need for tight fiscal discipline alongside the Government's ongoing efforts to move resources to frontline services, Finance Minister Bill English says.

Lower than forecast tax revenue combined with the fiscal impact of the Canterbury earthquake have contributed to a $4.4 billion operating deficit before gains and losses in the four months to 30 October.

New Zealand and Hong Kong have concluded a double tax agreement, Finance Minister Bill English and Revenue Minister Peter Dunne announced today.

Mr English and Hong Kong’s Financial Secretary John Tsang signed the agreement in Auckland.

"This agreement is an important step forward in strengthening our economic relationship with Hong Kong,” Mr English said.

Standard and Poor's decision to put New Zealand's foreign currency rating on negative outlook highlights the need to reduce our heavy reliance on foreign debt, Finance Minister Bill English says.

Good morning and thank you Peter. It is a pleasure to be here.

A sustainable economic recovery is underway and will pick up momentum next year as the Government continues to roll out its economic plan, Finance Minister Bill English says.

The Government remains committed to sound management of its finances and ongoing spending restraint as the economy continues to recover from recession, Finance Minister Bill English says.

New Zealand has maintained third place in the World Bank's Doing Business survey, confirming its reputation as one of the best countries in which to do business, say Finance Minister Bill English a

The second 2025 Taskforce report shows the Government has taken steps to lift New Zealand's sustainable economic growth, but catching up with Australia will be a long-term challenge, Finance Minist

The Government will nominate Secretary to the Treasury, John Whitehead, as an executive director to the World Bank, Finance Minister Bill English says. 

The Director-General of the Ministry of Agriculture and Forestry, Murray Sherwin, will chair the soon-to-be-established New Zealand Productivity Commission, Finance Minister Bill English and Regula

Finance Minister Bill English leaves for Japan on Wednesday to attend the Asia Pacific Economic Cooperation (APEC) finance ministers' annual meeting in Kyoto and to meet senior government and inves

The lowest annual inflation rate in more than six years confirms that cost of living increases have generally been low and real wages are gradually increasing, Finance Minister Bill English says.

Households have made a multi-billion dollar move away from borrowing towards saving in the past two or three years, which is already reshaping the nature of the current economic recovery, Finance M

Finance Minister Bill English has welcomed confirmation that the Auditor-General will complete a performance audit of the Crown's Retail Deposit Guarantee Scheme.

Finance Minister Bill English leaves tonight for the United Kingdom and the United States to update business, investment and government leaders on New Zealand's economic programme.

The Government's tax changes tomorrow will strengthen economic growth and help New Zealand families get ahead, Finance Minister Bill English says.

Labour's unfunded policy to remove GST from fresh fruit and vegetables would deliver only $1 a week for the average Kiwi - and much less for low income earners, Finance Minister Bill English says.<

Ministers will have extra flexibility to consider a wider range of issues - including large-scale ownership of farmland - when assessing overseas investment applications for sensitive land, Finance