New Zealand budget

The New Zealand Budget is statement by the Government of New Zealand, usually set annually, of the state's revenues and expenditures for the preceding fiscal year and years to come. It is prepared by the New Zealand Treasury for the Minister of Finance.

The Budget's time frame is usually 1 June - 1 July and typically delivered to the Parliament of New Zealand in May.

Budget statement

The Minister of Finance delivers the Budget statement, a speech in the House of Representatives with no time limit. In the Budget statement, the Minister may review the international economic outlook and the performance of the New Zealand economy, and outlines the Government's proposed economic and fiscal measures to deal with the assessed situation of the country.^[1]

Changes to social policy may also be made by the Budget. The Minister of Finance then moves the second reading of the main Appropriation Bill. Associated parliamentary papers are also presented. These papers include the Estimates of Appropriations, which are papers outlining the Government's spending plans.

The Budget statement is the start of the annual Budget debate, which lasts for up to 14 hours. This excludes the time taken to read the Budget Statement. This debate usually takes precedence over all other Government business and ensures the Budget is put under sustained scrutiny.

Following the delivery of the Budget, select committees examine the Estimates of Appropriations, a process that often involves the hearing of evidence from Ministers and government officials. Select committees must report on the "Votes" (areas of spending) allocated to them within two months of Budget Day, and the House then holds a further debate on the Government's spending plans (the Estimates debate).

Documents generally released at the time of the Budget:

Appropriation (Estimates) Bill
Budget Executive Summary
Budget Speech and Fiscal Strategy Report
Budget Economic and Fiscal Update
Estimates of Appropriations for the Government of New Zealand
Information Supporting the Estimates of Appropriations
Statements of Intent
Press statements

References

↑ "Special Feature - The Budget". Parliament of New Zealand. 27 May 2009. Retrieved 27 March 2015.

External links

New Zealand Treasury - Budget

New Zealand budget

By year	1958 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Other	Fiscal Responsibility Act 1994 Public Finance Act 1989

Category

Economy of New Zealand

History	Head tax, 1881 IC&A Act, 1894 Wool boom, 1951 Black Budget, 1958 Think Big, 1979-84 Rogernomics, 1984-90 Ruthanasia, 1990-93 Leaky homes crisis, 2000s Finance company collapses, 2006-12

Currency	New Zealand dollar Dollar banknotes twenty Dollar coins one Twenty-cent coin New Zealand pound

Government	Taxation New Zealand Treasury New Zealand budget New Zealand Trade and Enterprise Reserve Bank of New Zealand Official Cash Rate Overseas Investment Office Commerce Commission KiwiSaver

Industry	Agriculture New Zealand Meat Producers Board New Zealand Dairy Board New Zealand Wool Board Beer Fishing Aquaculture Whaling Forestry Woodchipping Kauri gum Licensing trust Mining Tourism

Economic conditions	Social class Income Poverty International rankings

Agreements	Closer Economic Relations Free trade agreements Malaysia China Trans-Pacific Strategic Economic Partnership Australian and New Zealand Standard Industrial Classification

Unions and lobbyists	Campaign Against Foreign Control of Aotearoa New Zealand Business Roundtable New Zealand Council of Trade Unions The New Zealand Institute

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