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Pre-election 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 5 August 2014 Status [10]

Potential policy decisions affecting revenue

 
ACC - Funding Policy Review Changed
Revenue - Income-sharing Tax Credits Unchanged
Services Funded by Third Parties Unchanged

Potential policy decisions affecting expenses (expected to be funded from reprioritisation or Budget allowances)

 
ACC - Work-related Gradual Process Disease and Infection Changed
Budget Operating Initiatives Unchanged
Canterbury Earthquake Recovery - Christchurch Central Recovery Plan - Anchor Projects Changed
Christchurch City/Crown Cost Sharing - Horizontal Infrastructure Unchanged
Communications - Ultra-Fast Broadband Initiative Changed
Defence Force - Operating and Capital Costs Changed
Finance - Concessionary Loans Unchanged
Government Response to Wai 262 Unchanged
Housing/Social Development - Housing Assistance Changed
Internal Affairs - All-of-Government Common Capabilities Sustainable Funding New
Revenue - KiwiSaver One-off Enrolment Unchanged
Revenue - Transformation and Technology Renewal Unchanged
Social Development - Welfare Reform Costs Unchanged
Social Development - Welfare Reform Forecast Benefit Savings Unchanged
State Sector Employment Agreements Unchanged
Vulnerable Children White Paper Unchanged

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

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

Matters dependent on external factors

 
ACC - Levies Unchanged
ACC - Non-earners' Account Unchanged
Canterbury Earthquake Recovery - Residential Red Zone Unchanged
Caregiver Employment Conditions Unchanged
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 Unchanged
Finance - Goodwill on Acquisition Unchanged
Finance - Solid Energy Unchanged
Finance - Southern Response Earthquake Services Support Unchanged
Housing - Divestment of Housing Unchanged
Revenue - Cash Held in Tax Pools Unchanged
Revenue - Student Loans Changed
Treaty Negotiations - Treaty Settlement Forecasts Unchanged
Treaty Negotiations - Relativity Clause Unchanged

Notes

  • [10]Unchanged - risks that have not substantively 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.
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