Articles tagged with Treasury
NZ Economy Grows Strongly in Q1 2026 with GDP Up 0.8% Amid Global Uncertainty
6 days ago | 203 viewsNew Zealand's economy showed strong momentum in the March 2026 quarter, growing 0.8%, nearly three times faster than Australia and twice as fast as the US, with GDP per capita and real purchasing power also rising. This growth reflects the resilience of New Zealanders amid challenging conditions and was supported by business investment and government policies, though uncertainty from the Middle East conflict may impact future growth. Despite short-term caution, the government remains focused on fiscal responsibility and expects economic growth to strengthen over time, leading to more jobs and higher incomes.
Tags: Nicola Willis Stats NZ New Zealand Australia United States Treasury Budget 2026 Middle East Kiwis Investment BoostGovernment to Boost NZ Superannuation Fund Contributions to $3.1 Billion by 2030
3 weeks ago | 208 viewsThe New Zealand Government plans to contribute $3.1 billion to the Superannuation Fund over the next four years, an increase of $2.2 billion due to updated population and inflation forecasts. The Guardians of New Zealand Superannuation have lowered their expected long-term returns from 7.8% to 7.2%, reflecting anticipated weaker global equity market performance. Contributions will continue until 2054, with superannuation costs projected to rise from $24.7 billion to $31.2 billion by 2029/30 as the population ages.
Tags: New Zealand Superannuation Fund Nicola Willis Government contributions Super Fund Guardians of New Zealand Superannuation Treasury Budget forecasts inflation forecasts population projections Finance MinisterNew Zealand Forecasts Budget Surplus in 2028/29, Debt Reduction Ahead
3 weeks ago | 321 viewsFinance Minister Nicola Willis highlights that disciplined economic management has led to an earlier-than-expected return to a government surplus in 2028/29, reducing borrowing and debt servicing costs. The government continues investing in essential services and infrastructure within an affordable funding framework while improving fiscal health, including a $2.6 billion surplus forecast and a lowered bond issuance by $6 billion. This fiscal repair strengthens New Zealand's resilience against future global and environmental uncertainties, benefiting all citizens.
Tags: Nicola Willis Treasury New Zealand Government OBEGALx surplus New Zealand Debt Management fiscal management economic forecast debt reduction government bondsNew Zealand Government’s Plan to Transform Infrastructure and Asset Management by 2030
1 month ago | 291 viewsThe Government is implementing a comprehensive reform programme to improve New Zealand’s infrastructure asset management, focusing on long-term economic prosperity through better planning, funding, and oversight, including strengthening assurance processes and establishing the Ministry of Cities, Environment, Regions and Transport (MCERT). A key initiative addresses poor coordination and data quality in underground asset management, with plans to enhance regulations, compliance, and potentially develop a National Underground Asset Register to reduce costs and disruptions. These foundational changes aim to ensure safer, more reliable infrastructure, better value for taxpayers, and sustained growth, with ongoing efforts to refine policies and enforcement starting July 2026.
Tags: Murray Pugh Jim Donovan Minister Stanford NZUAG Infrastructure Commission Treasury MCERT National Infrastructure Plan New Zealand ApōpōGovernment Reforms Infrastructure Investment System for Better Projects and Value
2 months ago | 380 viewsThe New Zealand Government is reforming its Investment Management System to improve infrastructure project selection by consolidating assurance processes, shifting project assurance responsibility from Treasury to the independent NZ Infrastructure Commission, and enhancing ministerial oversight. These changes aim to provide Ministers with clearer, expert, and actionable advice to make informed "go/no go" decisions, ensuring projects meet public needs, represent value for money, and are deliverable. The reforms also introduce standardized assessments, strengthen asset management assurance, and seek to reduce project delays and inefficiencies, ultimately delivering better infrastructure outcomes for New Zealanders.
Tags: Chris Bishop Nicola Willis New Zealand Government NZ Infrastructure Commission Treasury Infrastructure Priorities Programme Investment Management System Infrastructure Minister Finance Minister NZ Transport AgencyNew Zealand’s National Infrastructure Plan: Fixing Systems for Long-Term Prosperity
2 months ago | 405 viewsThe speech emphasizes New Zealand’s urgent need to fix its underperforming infrastructure system by implementing evidence-based, long-term reforms aligned with the independent National Infrastructure Plan, focusing on improving asset management, investment assurance, and bipartisan cooperation. The Government has already initiated foundational changes including a new planning system, enhanced maintenance programs, and strengthened transparency, while announcing Cabinet decisions to transfer infrastructure investment assurance to the Infrastructure Commission to ensure better oversight and value for taxpayer money. Despite challenges like aging assets, demographic shifts, and external shocks, the Government is committed to prioritizing projects effectively, improving infrastructure quality, and fostering economic prosperity for all New Zealanders.
Tags: Raveen Geoff Wayne Brown Helen Clark Minister Stanford Infrastructure Commission National Infrastructure Plan Treasury Auckland Council Minister of FinanceNew Public Finance Amendment Act Enhances Fiscal Transparency in NZ
2 months ago | 503 viewsNew 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.
Tags: Nicola Willis Public Finance Amendment Act Treasury Pharmac PREFU New Zealand Finance Minister Parliament fiscal risksNew Public Finance Amendment Act Enhances Fiscal Transparency in NZ
2 months ago | 435 viewsNew legislation requires the Treasury's economic and fiscal updates to include specific statements on fiscal risks, addressing previous omissions like time-limited funding for essential medicines. It also removes the Treasury's obligation to report on "wellbeing," refocusing its role on core economic and fiscal advice, and advances the delivery date of the Pre-Election Economic and Fiscal Update to give voters more time to consider election choices. The Act is set to take effect by July 1, 2026.
Tags: Nicola Willis Public Finance Amendment Act Treasury Pharmac New Zealand PREFU Finance Minister Parliament fiscal risks economic outlookLessons from COVID Response to Navigate Fuel Shortages in New Zealand
2 months ago | 516 viewsThe COVID response offers key lessons for managing fuel shortages, emphasizing the importance of maintaining fiscal discipline, working collaboratively with people and businesses, and avoiding hasty decisions that could harm the long-term future. The government is prioritizing supply-side solutions while preparing demand-side plans as a last resort, ensuring transparency, democracy, and respect for human needs such as education. Additionally, learning from global experiences and reducing regulatory barriers through open feedback channels are crucial strategies to enhance New Zealand’s fuel resilience without repeating past mistakes.
Tags: Matthew New Zealand COVID Response fuel shortages Iran conflict Treasury Prime Minister Ministry for Regulation Parliament oppositionFinance Minister Nicola Willis Emphasizes Fiscal Discipline Amid Global Economic Volatility
3 months ago | 490 viewsFinance Minister Nicola Willis emphasizes the importance of fiscal consolidation amid global economic volatility and Fitch Ratings' negative outlook on New Zealand's credit rating. The Government has pursued a balanced fiscal strategy with significant savings and investment in frontline services, aiming to reduce spending relative to GDP, return to surplus, and lower debt. Upcoming economic uncertainties, especially from energy market disruptions, reinforce the commitment to disciplined spending and prudent debt management to maintain New Zealand's fiscal reputation.
Tags: Nicola Willis Fitch Ratings New Zealand Government fiscal consolidation Treasury Budget 2026 economic volatility fiscal discipline Middle EastRoyal Commission Report Reveals Lessons and Impact of New Zealand’s COVID-19 Response
3 months ago | 498 viewsThe Royal Commission's final report on New Zealand's COVID-19 response highlights that initial restrictions were appropriate but later extended beyond public health advice, with economic warnings ignored, leading to excessive spending and increased public debt. Auckland endured the longest lockdown, exceeding official recommendations, and vaccine mandates for under-18s did not align with expert advice, reflecting missed opportunities to balance health and economic impacts. The Government acknowledges the sacrifices made by New Zealanders and plans to respond to the report’s recommendations by July, aiming to better balance future health and economic decisions.
Tags: Simeon Brown Royal Commission New Zealand Auckland Treasury vaccine mandate lockdown economic impact public healthNew Zealand Job Growth Boosts Economy as Unemployment Rate Slightly Rises
4 months ago | 711 viewsFinance Minister Nicola Willis highlights that an additional 15,000 people gained jobs in New Zealand in the last quarter of the year, alongside increased hours worked and job-seeking activity, indicating a growing economy. Although the unemployment rate rose slightly to 5.4%, it remains below Treasury forecasts, with expectations of a future decline as economic recovery continues. Additionally, the proportion of young people not in education, training, or employment decreased, reflecting positive outcomes from government efforts to support business growth and employment.
Tags: Nicola Willis New Zealand Finance Minister Stats NZ unemployment rate Treasury economy employment youth employment business confidenceStrong Q3 Economic Growth Boosts Confidence Ahead of Christmas, Says Finance Minister
6 months ago | 964 viewsFinance Minister Nicola Willis welcomed the strong 1.1% economic growth in the third quarter, driven by 14 of 16 sectors, signaling a positive turnaround after challenging years. Key job-rich sectors like manufacturing, construction, and business services showed significant growth, alongside increases in exports and investment, indicating promising future job prospects and higher incomes. With GDP per capita rising 0.9% and forecasts predicting accelerated growth and lower unemployment next year, the government’s strategy to strengthen the economy appears effective.
Tags: economy growth Nicola Willis Finance Minister Stats NZ Treasury Reserve Bank manufacturing sector construction business services GDP per capitaNZ Government Commits to Fiscal Discipline with Surplus Target by 2029
6 months ago | 872 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 governmentUpdated Public-Private Partnership Guidance Boosts NZ Infrastructure Projects
6 months ago | 706 viewsNew Zealand has updated its Public-Private Partnership (PPP) guidance to enhance clarity, consistency, and effectiveness in infrastructure delivery, building on lessons from past projects and international models. Key improvements include bid cost reimbursement, price validation, flexible works completion regimes, and provisions for project expansions, aiming to attract global investment and improve project outcomes. The updated guidance supports government agencies in delivering durable infrastructure that meets high standards, addressing New Zealand’s infrastructure challenges and aligning with global best practices.
Tags: Chris Bishop Simon Court New Zealand Infrastructure Treasury PPP Blueprint Infrastructure Investment Summit Roads of National Significance Correctional Facilities