New Zealand Budget

The New Zealand Budget is an annual statement by the New Zealand Government that outlines of the nation's revenues and expenditures for the preceding fiscal year and expectations for the next one. It is prepared by the New Zealand Treasury for the Minister of Finance. The Budget is usually presented to the House of Representatives 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". New Zealand Parliament. 27 May 2009. Retrieved 27 March 2015.

External links[]

Official website

New Zealand Treasury - the Budget

[budget-1] "Special Feature - The Budget". New Zealand Parliament. 27 May 2009. Retrieved 27 March 2015.

[1]

v t New Zealand budget
By year	1958 (Black Budget) 1991 (Mother of all Budgets) 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (Wellbeing Budget) 2020 2021
Other
Category

v t Economy of New Zealand
History	Vogel Era, 1870s Head tax, 1881 IC&A Act, 1894 Wool boom, 1951 Black Budget, 1958 Think Big, 1979–84 Rogernomics, 1984–90 Ruthanasia, 1990–93 Mother of all Budgets, 1991 Leaky homes crisis, 2000s Finance company collapses, 2006–12 New Zealand property bubble, 1987–present
Currency	New Zealand dollar NZ dollar banknotes $5 $10 $20 $50 $100 NZ dollar coins 10c 20c 50c $1 $2 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 Board New Zealand Dairy Board New Zealand Wool Board Beer Licensing trust Information technology Fishing Aquaculture Whaling Forestry Woodchipping Kauri gum Manufacturing Mining Tourism Wine
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 New Zealand Institute