Page updated 18 Dec 2012
This is the home page for Budget 2012 for the government of New Zealand. Hon Bill English is Minister of Finance.
Document Tabled on 18 December 2012
- Half Year Economic and Fiscal Update 2012
- The Half Year Economic and Fiscal Update (HYEFU) 2012 includes the Treasury's overall economic and fiscal forecasts and disclosure of fiscal risks. It was published conjointly with Budget Policy Statement 2013.
Budget 2012 Information Release
The Treasury has published background documents related to Budget 2012 decisions. See Budget 2012 Information Release (29 June 2012).
Documents Tabled on 24 May 2012
The core Budget documents available on the Treasury website are listed below. Most of these documents are tabled in Parliament by the Minister of Finance on Budget Day, 24 May 2012.
- Minister's Executive Summary
- The Executive Summary is the overview of all the Budget information and contains the main points for the media and general public. It summarises the Government's spending decisions and main issues raised in the Budget Speech, the Fiscal Strategy Report and the Budget Economic and Fiscal Update.
- Budget Speech
- The Budget Speech is the Minister of Finance's speech delivering the Budget Statement at the start of Parliament's Budget debate. The Budget Statement generally focuses on the overall fiscal and economic position, the Government's policy priorities and how those priorities will be funded.
- Fiscal Strategy Report
- The Fiscal Strategy Report sets out the Government's fiscal strategy in areas such as the balance between operating revenues and expenses, and debt objectives. The 2012 report includes fiscal trends covering at least the next 10 years and the Government's long term fiscal objectives. The Government must explain changes in, and/or inconsistencies between, the Fiscal Strategy Report, the Budget Policy Statement and the previous year's Fiscal Strategy Report.
- Budget Economic and Fiscal Update (BEFU) 2012
- The Update includes the Treasury's overall economic forecasts and the forecast financial statements of the Government, along with the implications of government financial decisions and other information relevant to the fiscal and economic position.
- Estimates of Appropriations for the Government of New Zealand for the Year Ending 30 June 2013
- The Estimates outline expenses and capital expenditure the Government plans to incur on specified areas within each Vote for the financial year about to start (the Budget year).
- Information Supporting the Estimates of Appropriations for the Government of New Zealand for the Year Ending 30 June 2013
- Information Supporting the Estimates is organised on the basis of sectors, with each Vote and its administering department allocated to one sector (only one department is in more than one sector). The Information Supporting the Estimates comprises sector overview information, together with statements of responsibility; performance information for appropriations in Votes covered by the sector; and statements of forecast service performance and forecast financial statements of departments included in the sector. The supporting information includes Statements of Intent of departments in the sector.
- Supplementary Estimates of Appropriations for the Government of New Zealand and Supporting Information for the Year Ending 30 June 2012
- The Supplementary Estimates outlines the additional expenses and capital expenditure required for the financial year about to end. The Supporting Information provides reasons for the changes to appropriations during the year, related changes in performance information and certain additional performance information for new appropriations.
Document Tabled on 16 February 2012
- Budget Policy Statement (BPS) 2012
- The BPS 2012 sets out the overarching policy goals that will guide the government's Budget decisions and the government's priorities for the forthcoming Budget.
Ministers' Budget-related Information
Material prepared by Ministers' offices to explain some of the key Budget initiatives is available from the Beehive website's Feature: Budget 2012 page.
Treasury Budget-related Information
Other material published by the Treasury includes:
- Key Facts for Taxpayers - Summary of tax, expenditure and income data from the Budget Economic and Fiscal Update (BEFU).
- Borrowing Programme $3 billion Lower Over Forecast Period (New Zealand Debt Management Office)
- Student Loan Repayments Table
- Regulatory Impact Statements:
- 2012 Tax Expenditure Statement - A preliminary list of spending delivered through the tax system.
- Estimates of Revenue Effects of Small Tax Rate and Tax Base Changes - Also known as the Ready Reckoner.
- Budget Data - Excel workbooks, containing data as published in the Estimates of Appropriations 2012/13: appropriation expenditure, Crown revenue and capital receipts, and departmental Forecast Financial Statements.
- Fiscal Strategy Model
- New Zealand Superannuation (NZS) Fund Contribution Rate Model
- Budget Process - Overview of how the Budget process works in New Zealand.
- Putting It Together: An Explanatory Guide to New Zealand's State Sector Financial Management System (September 2011)