The Treasury

Global Navigation

Personal tools

You are here: Home > Government Finances > Investment Statements > 2018 Investment Statement


He Puna Hao Pātiki: 2018 Investment Statement

Page updated 20 Mar 2018

Presented to the House of Representatives Pursuant to Section 26NA of the Public Finance Act 1989.

He Puna Hao Pātiki is the New Zealand Treasury’s 2018 Investment Statement. It analyses the government balance sheet – which represents the investment made by government on behalf of New Zealanders in things like schools, hospitals, financial assets and commercial enterprises.

Managed effectively, a strong balance sheet supports a country’s ability to withstand and bounce back from events that might otherwise seriously impede the ongoing delivery of public services and access to borrowing.  So appraising the balance sheet by looking at a range of factors like the long-term fiscal outlook, stress-testing and value at risk, provides important information about a country’s fiscal sustainability.

Fiscal sustainability is not an end in itself. It is a tool to support the wellbeing of current and future generations, including helping to achieve social and environmental goals. That’s why, in addition to appraising the strength of the Government of New Zealand’s balance sheet, the 2018 Investment Statement explores how government assets can more effectively contribute to wellbeing.

Read the Treasury's related media statement and speech:

This document is available for viewing or download in Adobe PDF and HTML formats, with the exception of the Additional Information. Using PDF Files

Browse section/chapter Download/Page range

Executive summary
Whakarāpopototanga matua
About the design elements

Section one: Managing the balance sheet

  • Chapter 1.1: Good management of the balance sheet is important
  • Chapter 1.2: Balance sheet by the numbers
  • Chapter 1.3: Testing fiscal resilience

Section two: Assessing the performance of government investment

  • Chapter 2.1: Social Portfolio overview
  • Chapter 2.2: Financial Portfolio overview
  • Chapter 2.3: Commercial Portfolio overview
  • Chapter 2.4: The role of system settings

Section three: Pursuing distant horizons

  • Chapter 3.1: The role of the Living Standards Framework
  • Chapter 3.2: Illustration: Natural capital

Section four: Detailed sector performance

  • How to read the templates
  • Social
  • Financial
  • Commercial

Conclusion: The road ahead

is18-hphp-wellbeing.pdf (1,421 KB) pp. 1–188

Related documents

Doc. Date




Mar 2018

The Treasury

Quick Guide - He Puna Hao Pātiki: 2018 Investment Statement: Investing for Wellbeing

is18-quick-guide.pdf (510 KB)

Mar 2018

The Treasury

Poster - He Puna Hao Pātiki: 2018 Investment Statement - Investing for Wellbeing
One page overview at A3 size in English and Te Reo.

is18-a3-poster.pdf (510 KB)

Charts and data will be available from 31 March 2018.

Page top