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.
| Specific fiscal risks as at 26 November 2012 | Status [11] | Value of risk |
|---|---|---|
Potential policy decisions affecting revenue |
||
| ACC - Funding Policy Review | New | Unquantified |
| ACC - Levies | Unchanged | Unquantified |
| Revenue - Income-sharing Tax Credits | Unchanged | $500 million per annum |
| Services Funded by Third Party Revenue | Unchanged | Unquantified |
Potential policy decisions affecting expenses but expected to be funded from reprioritisation or Budget allowances |
||
| ACC - Work-related Gradual Process Disease and Infection | Changed | Unquantified |
| Canterbury Earthquake - Christchurch City Council/ Crown Cost Sharing | New | Unquantified |
| Education - Early Childhood Education Funding | New | Unquantified |
| Government Response to Wai 262 | Unchanged | Unquantified |
| Health - Payment of Family Caregivers | Changed | Unquantified |
| Housing - Reform of Social Housing | Unchanged | Unquantified |
| Revenue - KiwiSaver Auto-enrolment | Unchanged | $350 to $550 million operating expenses |
| Revenue - Transformation and Technology Renewal | Unchanged | Unquantified |
| Social Development - Disability Allowance Savings | New | Unquantified |
| Social Development - Vulnerable Children White Paper | New | Unquantified |
| Social Development - Welfare Reform Costs | Changed | Unquantified |
| Social Development - Welfare Reform Forecast Benefit Savings | Changed | Unquantified |
| State Sector Employment Agreements | Unchanged | Unquantified |
Potential capital decisions but expected to be funded from the existing Crown balance sheet, including the Future Investment Fund |
||
| Canterbury Earthquake - Crown Christchurch Investment | New | Unquantified |
| Departmental Capital Intentions | Unchanged | Unquantified |
| Earthquake Strengthening for Crown-owned Buildings | Unchanged | Unquantified |
| Finance - Crown Overseas Properties | Unchanged | $150 million capital expenditure |
| Finance - Investment into NZ Post Group (Kiwibank) | Unchanged | Unquantified |
| Primary Industries - Investment in Water Infrastructure | Unchanged | Unquantified |
| Transport - Support for KiwiRail | Changed | Up to $333 million capital expenditure |
Matters dependent on external factors |
||
| ACC - Non-earners' Account | Unchanged | Unquantified |
| Canterbury Earthquake - EQC | Unchanged | Unquantified |
| Canterbury Earthquake - Residential Red Zone | New | Unquantified |
| Canterbury Earthquake - Southern Response Earthquake Services Support Package | Changed | Unquantified |
| Communications - Potential Impairment in Value of Broadband Investment | Unchanged | Unquantified |
| Communications - Radio Spectrum Income Following the Digital Switchover | New | Unquantified |
| Defence Force - Potential Rationalisation, Revaluation and Disposal of NZDF Assets | Unchanged | Unquantified |
| Energy - Crown Revenue from Petroleum Royalties | Changed | Unquantified |
| Environment - Kyoto Protocol Obligations | Unchanged | Unquantified |
| Environment - Post-2012 International Climate Change Obligations | Unchanged | Unquantified |
| Finance - Goodwill on Acquisition | Changed | Unquantified |
| Finance - Government Commitments to International Financial Institutions | Unchanged | Unquantified |
| Finance - Sale of Part of the Crown's Shareholding in Five Companies | Unchanged | Unquantified |
| Housing - Divestment of Housing | New | Unquantified |
| Revenue - Cash Held in Tax Pools | Unchanged | Unquantified |
| Treaty Negotiations - Treaty Settlement Forecast | Unchanged | Unquantified |
| Treaty Negotiations - Relativity Clause | Unchanged | Unquantified |
Notes
- [11]Unchanged - risks that have not materially changed since the previous Economic and Fiscal Update.Changed - risks that have changed substantively from the previous Economic and Fiscal Update.New - risks that have not been disclosed in the previous Economic and Fiscal Update.
