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Half Year Economic and Fiscal Update 2014

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 24 November 2014 Status [11]
Potential policy decisions affecting revenue  
ACC - Funding Policy Review Unchanged
Revenue - Income-sharing Tax Credits Unchanged
Services Funded by Third Parties Unchanged
Potential policy decisions affecting expenses (expected to be funded from reprioritisation or the Budget operating allowance):  
ACC - Work-related Gradual Process Disease and Infection Unchanged
Budget Operating Initiatives Unchanged
Canterbury Earthquake Recovery - Christchurch Central Recovery Plan - Anchor Projects Changed
Christchurch City/Crown Cost Sharing - Horizontal Infrastructure Changed
Communications - Ultra-Fast Broadband Initiative Unchanged
Concessionary Loans Changed
Defence Force - Operating and Capital Costs Unchanged
Government Response to Wai 262 Unchanged
Health - Health Benefits Limited New
Housing/Social Development - Social Housing Reform Changed
Internal Affairs - All-of-Government Common Capabilities Sustainable Funding Unchanged
Revenue - KiwiSaver One-off Enrolment Unchanged
Revenue - Transformation and Technology Renewal Unchanged
Social Development - Child, Youth and Family Modernisation New
Social Development - Welfare Reform Costs Unchanged
Social Development - Welfare Reform Forecast Benefit Savings Unchanged
State Sector Employment Agreements Unchanged
Support for Children in Hardship New
Vulnerable Children White Paper Unchanged
Potential capital decisions (expected to be funded from the existing Crown balance sheet, including the FIF, or the Budget capital allowance):  
Arts, Culture & Heritage - Review of Military History Museum Arrangements Unchanged
Agency Capital Intentions Unchanged
Communications - Ultra-Fast Broadband Expanded Scope New
Earthquake Strengthening for Crown-owned Buildings Unchanged
Finance - Crown Overseas Properties Unchanged
Parliamentary Service - Parliamentary Accommodation Unchanged
Primary Industries - Investment in Water Infrastructure Unchanged
Transport - Auckland Transport Projects Unchanged
Transport - Regional State Highways Unchanged
Transport - Support for KiwiRail Unchanged
Matters dependent on external factors  
ACC - Work, Earners' and Motor Vehicle Accounts Unchanged
ACC - Non-earners' Account Unchanged
Canterbury Earthquake Recovery - Residential Red Zone Unchanged
Caregiver Employment Conditions Changed
Communications - Impairment in Value of Broadband Investment Unchanged
Defence Force - Potential Rationalisation, Revaluation and Disposal of NZDF Assets Unchanged
Energy - Crown Revenue from Petroleum Royalties Unchanged
Finance - EQC Changed
Finance - Goodwill on Acquisition Unchanged
Finance - Solid Energy Changed
Finance - Southern Response Earthquake Services Support Changed
Housing - Divestment of Housing Unchanged
Revenue - Cash Held in Tax Pools Unchanged
Revenue - Student Loans Unchanged
Treaty Negotiations - Treaty Settlement Forecasts Unchanged
Treaty Negotiations - Relativity Clause Unchanged

Notes

  • [11]Unchanged - risks where the nature and/or scale of the risk has not changed substantively since the previous Economic and Fiscal Update.
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