Key Facts for Taxpayers (Part 1)
New Zealand's nominal GDP recovering
- New Zealand's nominal GDP recovering
The Budget 2009 figures have been updated to reflect historical revisions to GDP made by Statistics New Zealand in late 2009, but do not include the 1 October 2010 increase in the rate of GST.
Earthquake rebuild to boost growth
- Earthquake rebuild to boost growth
This graph shows the forecast gross expenditure on rebuilding capital stock destroyed in the September 4 and February 22 Canterbury earthquakes, measured as a percentage of real GDP.
Household saving improving
- Household saving improving
The household saving rate is the difference between the disposable income and expenditure of households, as a percentage of disposable income. The saving rate is boosted in 2010/11 by insurance claims related to the Canterbury earthquakes.
New Zealand's external vulnerability remains
- New Zealand's external vulnerability remains
New Zealand's net international investment position is the difference between the value of New Zealand's international assets and liabilities (as a percentage of GDP). 2011 benefits from reinsurance inflows related to the Canterbury earthquakes. Budget 2009 figures have been updated to reflect historical revisions.
Where do core Crown expenses go?
2011/12: $73.0b (34.9% of GDP)
- Where do core Crown expenses go?
Social security and welfare includes social assistance benefits such as New Zealand Superannuation, Domestic Purposes and the Unemployment Benefit.
Where does core Crown revenue come from?
2011/12: $61.1b (29.2% of GDP)
- Where does core Crown revenue come from?
Other direct taxes include residents' interest and dividend withholding taxes. Other indirect taxes include customs, excise and gaming duties. Expenses and revenue are on a core Crown basis and so exclude Crown entities and state-owned enterprises.
Operating balance before gains and losses
2011/12: -$9.7b (-4.7% of GDP)
- Operating balance before gains and losses
This graph shows the difference between total Crown revenue and expenses. It does not include gains and losses resulting from changing values of assets and liabilities.
Net core Crown debt
2011/12: $54.9b (26.2% of GDP)
- Net core Crown debt
Net core Crown debt excludes advances and financial assets held by the New Zealand Superannuation Fund.