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Budget 2013 Home Page Key Facts for Taxpayers - Budget 2013

Key Facts for Taxpayers (Part 1)

New Zealand's real GDP recovering

New Zealand's real GDP recovering.

This graph shows actual and forecast growth rates of production-based real GDP.

New Zealand's GDP growth robust in the world

New Zealand's GDP growth robust in the world.

This graph shows the Treasury's forecast growth rates of headline real GDP.

Households balancing the books

Households balancing the books.

The household saving rate is the difference between the disposable income and consumption expenditure of households, as a percentage of disposable income.

Earthquake rebuild a major influence

Earthquake rebuild a major influence.

Canterbury rebuild represents capital investment as a percent of GDP.

Where do core Crown expenses go?

2013/14: $72.4b (31.8% of GDP)

Where do core Crown expenses go?.

Social security and welfare includes social assistance benefits such as NZ Superannuation, Jobseeker support and Emergency Benefit, Supported Living Payment and the Sole Parent Support.

Where does core Crown revenue come from?

2013/14: $68.4b (30.0% of GDP)

Where does core Crown revenue come from?.

Other direct taxes includes resident interest and dividend witholding taxes. Other indirect taxes includes customs, excise and gaming duties and levies.

Expenses and revenue are on a core Crown basis and so exclude Crown entities and State-owned Enterprises.

Operating balance before gains and losses

2013/14: -$2.0b (-0.9% 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

2013/14: $64.8b (28.4% of GDP)

Net core Crown debt.

Net core Crown debt excludes advances and financial assets held by the NZ Superannuation Fund.

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