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Looking Ahead

The dynamic times that we live in present both challenges and opportunities for the Treasury, with some big issues facing us in the near future. These include:

  • Making the most of uncertainty and change. The formation of new trade blocs and alliances, innovative ideas and the march of technology are changing the way that business is done. Ongoing volatility in Europe is causing investors to be wary of excessive government debt. Financial markets remain volatile. The dynamic environment creates opportunities for New Zealand too. The world's economic centre of gravity is shifting closer to us, demand for our commodities is likely to remain high, technology is reducing the tyranny of distance and New Zealanders are reducing their debt to levels they consider more prudent. The Treasury will continue to monitor international developments and local economic indicators so we can help the Government create appropriate policies to counter these challenges and benefit from the opportunities.
  • The Growth Agenda. New Zealand needs sustainable growth in incomes in order to achieve higher living standards. We'll continue to recommend improvements in tax and regulatory settings, we'll seek greater integration and connections with the global economy's resources, knowledge and economies of scale, and we'll seek enhanced skills and labour productivity as part of the plan to grow the economy.
  • Fiscal discipline. A stable fiscal environment is important for New Zealand's future. The Government has set ambitious fiscal targets. By working to improve the State sector's performance, providing advice on fiscal policy, publishing the Long-term Fiscal Statement and managing the Government's budget and the Crown's balance sheet, we'll help New Zealand return to a sustainable surplus. This will restore the buffer provided by low debt, improving the country's ability to cope with future adverse events and providing this and future governments with a greater range of options to deliver public services.
  • Better Public Services. People expect better public services, delivered to them in more accessible, responsive and flexible ways. State sector agencies need to change the way they deliver their services. We'll continue to work collaboratively in the Corporate Centre to find innovative ways of driving value in the State sector. We'll help agencies find new ways to work, behave and interact with each other and with New Zealanders.
  • A higher performing Treasury. We'll continue striving to be a world-class Treasury that will be among the most influential and respected organisations in the country, where the best people come to do ambitious and innovative work built on quality analysis and excellent implementation. We'll achieve this within the budgets necessary in the fiscally constrained public sector.
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