Accounts show need for spending discipline 20 Feb 2012
- Personal Statement by Matthew Hooton News
- The Worm turns down for John Key News
- Lyttelton Port board backs council takeover proposal Business
- Climate change politics on the big screen at MTG Hawke’s Bay Living
- Update on IGIS inquiry into release of NZSIS information News
- $34,000 for restored wetland and new track of Paekakariki News
- Press Conference with John Key: 1st September News
- EDS welcomes Labour’s Conservation Policy News
- Datacom boosts profit 43% on strong NZ growth Business
- Rebuilding the New Zealand Defence Force News
Hon Bill English
Minister of Finance
20 February 2012
Accounts show need for spending discipline
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.
"Lower tax revenue reinforces the need for the Government to be disciplined in its spending and stick to its plan to get back to surplus in 2014/15," Mr English says.
"Balancing the books and returning to surplus is one of the most important things the Government can do to rebalance our economy towards savings and exports.
"That is why we have made it one of our four main priorities, alongside building a more productive and competitive economy, delivering better public services and rebuilding Canterbury.
"The economic update in the Budget Policy Statement last week shows growth will be slightly lower in the near term due to a weaker global outlook.
"That makes getting back to surplus an even bigger challenge, but we are committed to keeping a tight lid on spending and putting in place policies that make our economy more competitive. That will continue into the foreseeable future," Mr English says.
1 Sep 2014 Politics
Roy Morgan Research The Worm turns down for John Key The Roy Morgan Reactor is back! John Key struggled to coax The Worm above the... more
1 Sep 2014 Business News
Article - BusinessDesk NZ terms of trade sets new 40-year high as cheaper imports offset falling exports Sept. 1... more
29 Aug 2014 Business News
Fonterra credit rating cut by S&P over Beingmate deal, Fitch affirms rating Aug. 29 (BusinessDesk) - Fonterra Cooperative... more
1 Sep 2014 Lifestyle
NZ Symphony Orchestra 1 September 2014 - NZSO Media Release for immediate release The ‘best trumpet player in the ... more
29 Aug 2014 Lifestyle
Aarhus Festival Death Lines - a Memento Mori Collection Performances from five cities around the world –... more
14 Aug 2014 Property
New Zealand house sales fell in July as winter cooled the appetite of house hunters while a drop in properties selling for $400,000... more
7 Aug 2014 Property
Aug. 7 (BusinessDesk) - New Zealand property values rose at the slowest annual pace in 13 months in July as rising interest rates,... more
20 Aug 2014 Migration
Statistics NZ puts out detailed data on different ethnic groups, down to the 108 people from the Isle of Man. Did you know there are... more
28 Aug 2014 Travel & Tourism
Aug. 28 (BusinessDesk) - Jetstar, the discount unit of Australian airline Qantas Airways, lost ground in New Zealand, while claiming... more
1 Sep 2014 World Rowing Championships
The New Zealand Rowing Team has wrapped up a successful campaign in Amsterdam at the 2014 edition of the World Rowing... more
1 Sep 2014 Opinion
Gordon Campbell on John Key’s ‘blame it on Judith’ strategy Right now, Prime Minister John Key seems intent... more
29 Aug 2014 Column
As regular readers of this column already know, I am a bit of a fan when it comes to change. Evaluating your life, deciding how you... more
20 Aug 2014 People
We're expecting big things from Harman Grubisa, the new label from Auckland-based friends Madeleine Harman (right) and Jessica... more
22 Aug 2014 Recruitment
The loss of up to 100 jobs at Croxley stationery in Auckland is devastating news for their families and the local Avondale... more