Other balance sheet risks that have materialised
The Government intends to reduce specific risk exposures as conditions permit. Particular examples are:
- The original voluntary opt-in Retail Deposit Guarantee Scheme was introduced in late 2008, expired in October 2010 and was replaced with a more limited extended scheme until 31 December 2011, substantially reducing taxpayers' exposure to the deposit-taking sector.
- South Canterbury Finance Limited assets will be realised as quickly as practicable, consistent with getting the most value for taxpayers.
- We will ensure that the backup support package for AMI will only be used as a last resort, while providing a platform for the company to seek alternative commercial arrangements to replace the Government's support package as soon as possible.
More generally, the Government's focus on rebalancing the economy and increasing national savings will also reduce wider risks to the Crown's tax base and fiscal position. It will support sustainable economic growth.
