Articles tagged with Debt
NZ Government Commits to Fiscal Discipline with Surplus Target by 2029
2 weeks ago | 167 viewsFinance Minister Nicola Willis emphasizes the need for continued fiscal discipline to restore New Zealand’s budget surplus and reduce debt, despite Treasury’s forecast of a strong economic recovery with 3% growth and low inflation. The government aims for a surplus by 2028/29 through a medium-term fiscal consolidation strategy, maintaining tight control over discretionary spending and limiting operating allowances to $2.4 billion next year. Priorities include health, education, defence, and law and order, with new funding to come from savings and reprioritisation, ensuring the country remains fiscally responsible compared to other advanced economies.
Tags: Nicola Willis New Zealand Treasury Budget OBEGALx fiscal discipline economic recovery debt inflation governmentGovernment Regrets Planned Strike Impact on Patients, Students, and Families: Uncovering Unions' Political Motives
2 months ago | 250 viewsThe Government expresses regret over the impact of the planned strike by unions on patients, students, and families, noting the strike's apparent political motivation and disruption to education and healthcare services. The Government emphasizes its efforts to negotiate fair pay increases for teachers, doctors, and nurses, highlighting specific salary offers and benefits provided. Despite financial constraints and increased public debt, the Government seeks to resolve disputes through dialogue and urges unions to prioritize settlements over strikes to ensure the continuity of essential services.
Tags: strike unions Education Minister Erica Stanford Palestine NCEA exams Health Minister Simeon Brown Health New Zealand Association of Salaried Medical Specialists public sector employees public debtGovernment Financial Progress: 2024/25 Statements Reflect Fiscal Discipline and Investment Boost
2 months ago | 249 viewsFinance Minister Nicola Willis highlighted the 2024/25 government financial statements, showcasing progress in restoring fiscal discipline. Key points include a decrease in core Crown expenses, steady net core Crown debt, and a better-than-forecast deficit in the operating balance. The Government's focus on savings has allowed for increased investment in key sectors while maintaining tax relief, with future plans to further reduce government spending as part of ongoing fiscal discipline efforts.
Tags: Government Financial Statements Nicola Willis GDP Crown Expenses Debt OBEGALx Fiscal Discipline Budget.Finance Minister Applauds Fitch Ratings for Preserving New Zealand's Strong Credit Rating Amid Borrowing Challenges
4 months ago | 522 viewsFinance Minister Nicola Willis is pleased with Fitch Ratings affirming New Zealand's AA+ credit rating, attributing it to the government's prudent financial management. Fitch acknowledges New Zealand's strong commitment to fiscal consolidation and warns that a deviation from this path could impact creditworthiness. Willis emphasizes the importance of maintaining fiscal responsibility to avoid a credit downgrade, which would raise government debt costs and potentially affect households and businesses.
Tags: Finance Minister Nicola Willis Fitch Ratings New Zealand credit rating borrowing public finances fiscal consolidation debt GDP