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Budget 2011 Home Page Budget Economic and Fiscal Update 2011

Statement of Specific Fiscal Risks

Summary Table

The matters listed below are disclosed as specific fiscal risks because they meet the rules for disclosure outlined at the end of the chapter. Full descriptions of the risks listed below are set out in the next section.

Summary Table
Specific fiscal risks as at 2 May Status Value of risk
Pending policy decisions affecting revenue    
ACC - Levies Unchanged Unquantified
Finance - Mixed Ownership Model New Unquantified
Revenue - Apportionment Rules for High-Value Assets New Unquantified
Revenue - Potential Tax Policy Changes Unchanged Unquantified
Revenue - Salary Sacrifice New Unquantified
Revenue - Income-Sharing Tax Credits Changed $500m per annum by 2014/15
Risk to Third-Party Revenue Unchanged Unquantified
Pending policy decisions affecting expenses    
Climate Change - Review of the Emissions Trading Scheme New Unquantified
Communications - Recovery of Value of Broadband Investment New Unquantified
Education - Early Childhood Education Funding Unchanged Unquantified
Education - Inflation Adjustment for School Operating Funding Unchanged Unquantified
Housing - Reform of Social Housing New Unquantified
Justice - Legal Aid New Unquantified
Revenue - Child Support Unchanged Unquantified
Revenue - Redesigning Business Processes at Inland Revenue Unchanged Unquantified
Revenue - Student Loans Redesign New Unquantified
Social Development - ServiceLink New Unquantified
Social Development - Welfare Working Group Recommendations New Unquantified
State Sector Employment Agreements Unchanged Unquantified
Pending capital decisions    
Agriculture and Forestry - Investment in Water Infrastructure New Investment of up to $400m
Departmental Capital Intentions New Unquantified
Finance - Crown Overseas Properties Unchanged $150m over 2 to 3 years
Housing - Weathertight Homes Unchanged Unquantified
Reviews of the Delivery of Public Services Changed Unquantified
Transport - Support for New Zealand Railways Corporation (KiwiRail) Changed Unquantified
Matters dependent on external factors    
ACC - Non-Earners' Account Unchanged Unquantified
Canterbury Earthquake - AMI Support Package New Unquantified
Canterbury Earthquake Recovery Fund New Unquantified
Climate Change - Finance for Developing Countries Changed Unquantified
Climate Change - Kyoto Protocol Obligations Changed Unquantified
Climate Change - Post-2012 International Climate Change Obligations New Unquantified
Defence Force - Future Operationally Deployed Forces Activity Unchanged $30m operating expenses per annum
Defence Force - Sale of Skyhawks and Aermacchi Trainers Changed Unquantified
Education, Health, Social Development - Caregiver Employment Conditions Changed Unquantified
Energy - Crown Revenue from Petroleum Royalties Changed Unquantified
Finance - Entities in Receivership under Crown Retail Deposit Guarantee Schemes Changed Unquantified
Finance - Extended Crown Retail Deposit Guarantee Scheme Changed Unquantified
Finance - Government Commitments to International Financial Institutions Unchanged Unquantified
Health - Payment of Family Caregivers Changed Unquantified
Revenue - Cash Held in Tax Pools Unchanged Unquantified
State Services - KiwiSaver Contribution Unchanged Unquantified
Treaty Negotiations - Treaty Settlement Forecast New Unquantified
Treaty Negotiations - Treaty of Waitangi Claims - Settlement Relativity Payments Unchanged Unquantified
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