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.
| Specific fiscal risks as at 8 May 2012 | Status | Value of risk |
|---|---|---|
Potential policy decisions affecting revenue |
||
| ACC - Levies | Changed | Unquantified |
| Revenue - Income-Sharing Tax Credits | Unchanged | $500 million per annum |
| Revenue - Salary Trade-Offs | Unchanged | Unquantified |
| Services funded by Third Party Revenue | Changed | Unquantified |
Potential policy decisions affecting expenses but expected to be funded from Budget allowances |
||
| Environment - Review of the Emissions Trading Scheme | Changed | Between $175 million of operating savings and $145 million of operating expenses |
| Government Response to Wai 262 | Unchanged | Unquantified |
| Housing - Reform of Social Housing | Unchanged | Unquantified |
| Revenue - KiwiSaver Auto-Enrolment | Changed | $350 to $550 million operating expenses |
| Revenue - Transformation and Technology Renewal | Unchanged | Unquantified |
| Reviews of Public Services | Unchanged | Unquantified |
| Social Development - Welfare Reform | New | Unquantified |
| State Sector Employment Agreements | Unchanged | Unquantified |
Potential capital decisions but expected to be funded from the Future Investment Fund |
||
| Departmental Capital Intentions | Changed | Unquantified |
| Earthquake Strengthening for Crown-Owned Buildings | New | Unquantified |
| Finance - Crown Overseas Properties | Changed | $150 million capital expenditure |
| Finance - Investment in Kiwibank | New | Unquantified |
| Primary Industries - Investment in Water Infrastructure | Unchanged | Unquantified |
| Transport - Support for KiwiRail | Changed | Unquantified |
Matters dependent on external factors |
||
| ACC - Non-Earners' Account | Changed | Unquantified |
| ACC - Work-Related Gradual Process Disease and Infection | Changed | Unquantified |
| Canterbury Earthquake - AMI Support Package | Changed | Unquantified |
| Canterbury Earthquake - EQC | Changed | Unquantified |
| Canterbury Earthquake - Exceeding the CERF | Changed | Unquantified |
| Communications - Potential Impairment in Value of Broadband Investment | Unchanged | Unquantified |
| Defence Force - Potential Rationalisation, Revaluation and Disposal of NZDF Assets | New | Unquantified |
| Energy - Crown Revenue from Petroleum Royalties | Unchanged | Unquantified |
| Environment - Finance for Developing Countries | Unchanged | Unquantified |
| Environment - International Climate Change Obligations | Changed | Unquantified |
| Environment - Kyoto Protocol Obligations | Changed | Unquantified |
| Finance - Entities in Receivership under Crown Retail Deposit Guarantee Scheme | Unchanged | Unquantified |
| Finance - Goodwill on Acquisition | New | Unquantified |
| Finance - Government Commitments to International Financial Institutions | Unchanged | Unquantified |
| Finance - Sale of Part of the Crown's Shareholding in Five Companies | Changed | Unquantified |
| Health - Payment of Family Caregivers | Changed | Unquantified |
| Housing - Weathertight Homes | New | Unquantified |
| Revenue - Cash Held in Tax Pools | Unchanged | Unquantified |
| Transport - KiwiRail Balance Sheet Restructure | New | Unquantified |
| Treaty Negotiations - Treaty Settlement Forecast | Unchanged | Unquantified |
| Treaty Negotiations - Relativity Clause | Unchanged | Unquantified |
