The Treasury’s year-end financial statements have delivered no real surprises, adhering largely to the figures in the pre-election fiscal update.
In today's email we look into what yesterday's PREFU means for the rest of the election campaign.
With 31 days to go until the election, Treasury's Pre-Election Fiscal Update has unveiled a smaller "lolly jar" than expected, which prompted National to rule out tax cuts before 2020 and Labour to rule out a higher personal tax rate in its first term.
In today's email, we look ahead to this afternoon's PREFU and what sort of lolly scramble it might unleash, we note the growing debate over Labour's prevarications on a Capital Gains Tax and include an interview with Winston Peters.
Labour has unleashed a budget plan to spend $17 billion over four years on education, health and income support - hoping to convince voters that is better for them than tax cuts.
Treasury published its Half Yearly Economic and Fiscal Update (HYEFU) and Finance Minister Bill English held a news conference on Thursday to recommit the Government to its 2014/15 surplus target, despite the Treasury forecasting a NZ$572 million deficit in the HYEFU. Here's 6 things to note from HYEFU and its surroundings.
Low inflation is keeping nominal GDP lower than expected and exerting pressure on Government tax revenues, Finance Minister Bill English has warned in the wake of last week's surprise 1.0% annual inflation result.
Lower-than-forecast inflation figures for the September quarter have extended the expected pause in the Reserve Bank's rate hiking plans and will add to downward pressure on the Government's budget surplus and wage growth forecasts.
Labour updated its fiscal plan on Monday to adjust for the slightly lower revenue track forecast by Treasury in last week's Pre-election Fiscal Update (PREFU). Here are the 10 things of note:
Here's the 10 things to note from Treasury's Pre-Election Fiscal Update (PREFU), including a slight lowering of the forecast budget surplus track and a one year delay in the resumption of contributions to the New Zealand Superannuation Fund.