New Public Finance Amendment Act Enhances Fiscal Transparency in NZ
New legislation requires the Treasury to include specific fiscal risk statements in economic and fiscal updates, addressing previously unclear risks such as time-limited funding for Pharmac medicines. The Act removes the requirement for Treasury to report on wellbeing, focusing instead on core economic and fiscal advice, and advances the delivery date of the Pre-Election Economic and Fiscal Update by five working days to better inform voters. This law will take effect on July 1, 2026.