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Budget 2015 Home Page Budget Economic and Fiscal Update 2015

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 after this Statement. Full descriptions of the risks listed below are set out in the next section. Where quantification is possible, this is included in the description of the risk.

Specific fiscal risks as at 1 May 2015
Vote name (if appropriate)[13] - specific fiscal risk title Status[14]

Potential policy decisions affecting revenue

Labour Market - ACC Funding Policy Review Unchanged
Revenue - Income Sharing Tax Credits Unchanged
Revenue - Potential Tax Policy Changes New
Services Funded by Third Parties Unchanged

Potential policy decisions affecting expenses (expected to be funded from reprioritisation or the Budget operating allowance)

Budget Operating Initiatives Unchanged
Building and Housing/Social Development - Social Housing Reform Changed
Business, Science and Innovation - Ultra-Fast Broadband Initiative Unchanged
Canterbury Earthquake Recovery - Christchurch Central Recovery Plan - Anchor Projects Unchanged
Christchurch City/Crown Cost Sharing - Horizontal Infrastructure Unchanged
Concessionary Loans Unchanged
Defence Force - Operating and Capital Costs Unchanged
Government Response to Wai 262 Unchanged
Health - Health Benefits Limited Unchanged
Internal Affairs - All-of-Government Common Capabilities Sustainable Funding Unchanged
Labour Market - ACC: Work-related Gradual Process Disease and Infection Changed
Revenue - Transformation and Technology Renewal Unchanged
Social Development - Child, Youth and Family Modernisation Changed
Social Development - Welfare Reform Costs Unchanged
Social Development - Welfare Reform Forecast Benefit Savings Unchanged
State Sector Employment Agreements Unchanged

Potential capital decisions (expected to be funded from the existing Crown balance sheet, including the FIF, or the Budget capital allowance)

Agency Capital Intentions Unchanged
Arts, Culture & Heritage - Review of Military History Museum Arrangements Unchanged
Earthquake Strengthening for Crown-owned Buildings Unchanged
Finance - Asian Infrastructure Investment Bank New
Finance - Crown Overseas Properties Unchanged
Lands - Upgrading Landonline New
Parliamentary Service - Parliamentary Accommodation Unchanged
Primary Industries and Food Safety - Investment in Water Infrastructure Unchanged
Transport - Auckland Transport Projects Changed
Transport - Regional State Highways Unchanged
Transport - Support for KiwiRail Changed

Matters dependent on external factors

Building and Housing - Divestment and Development of Housing Changed
Business, Science and Innovation - Crown Revenue from Petroleum Royalties Unchanged
Business, Science and Innovation - Impairment in Value of Broadband Investment Unchanged
Canterbury Earthquake Recovery - Residential Red Zone Unchanged
Caregiver Employment Conditions Unchanged
Defence Force - Potential Rationalisation, Revaluation and Disposal of NZDF Assets Unchanged
Finance - EQC Unchanged
Finance - Goodwill on Acquisition Unchanged
Finance - Solid Energy Unchanged
Finance - Southern Response Earthquake Services Support Unchanged
Labour Market - ACC levies Unchanged
Labour Market - ACC Non-earners' Account Unchanged
Revenue - Cash Held in Tax Pools Unchanged
Revenue - Student Loans Unchanged
Treaty Negotiations - Treaty Settlement Forecasts Unchanged
Treaty Negotiations - Relativity Clause Unchanged


  • [13]Note that some vote names have changed since the Half Year Update.
  • [14]Unchanged- risks where the nature and/or scale of the risk has not changed substantively since the Half Year Update.
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