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Half Year 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 27 November 2015
Vote name (if appropriate) - specific fiscal risk title Status [23]
Potential policy decisions affecting revenue
Labour Market - ACC Levies Changed
Revenue - Business Tax Simplification New
Revenue - Income-sharing Tax Credits Unchanged
Revenue - Potential Tax Policy Changes Unchanged
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 Phase One Unchanged
Canterbury Earthquake Recovery - Christchurch Central Recovery Plan - Anchor Projects Unchanged
Concessionary Loans Unchanged
Defence Force - Operating and Capital Costs Unchanged
Government Response to Wai 262 Unchanged
Labour Market - ACC: Work-related Gradual Process Disease and Infection Unchanged
Revenue - Transformation and Technology Renewal Changed
Social Development - Child, Youth and Family Modernisation Unchanged
Social Development - Welfare Reform Costs Unchanged
Social Development - Welfare Reform Forecast Benefit Savings Unchanged
Social Development - Youth Service Extension New
State Sector Employment Agreements Unchanged
Potential capital decisions (expected to be funded from the
existing Crown balance sheet or the Budget capital allowance)
Agency Capital Intentions Unchanged
Earthquake Strengthening for Crown-owned Buildings Unchanged
Finance - Crown Overseas Properties Unchanged
Lands - Upgrading Landonline Unchanged
Parliamentary Service - Parliamentary Accommodation Unchanged
Primary Industries and Food Safety - 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
Building and Housing - Divestment and Development of HNZC Housing Unchanged
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
Defence Force - Potential Rationalisation, Revaluation and Disposal of NZDF Assets Unchanged
Finance - EQC Changed
Finance - Goodwill on Acquisition Unchanged
Finance - Southern Response Earthquake Services Support Unchanged
Labour Market - ACC Non-earners' Account Unchanged
Pay Equity and Caregiver Employment Conditions Changed
Revenue - Cash Held in Tax Pools Unchanged
Revenue - Student Loans Unchanged
Treaty Negotiations - Treaty Settlement Forecasts Unchanged
Treaty Negotiations - Relativity Clause Unchanged

Notes

  • [23]Unchanged- risks where the nature and/or scale of the risk has not changed substantively since the Budget Update.
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