Foreword: Minister of Finance
New Zealand's economy has returned to growth after the global financial crisis and recession but the next five years will remain challenging. The Government is still borrowing large sums to pay for public services and welfare entitlements for New Zealanders in need. So, for the foreseeable future, we must improve the quality of those services with little or no extra money.
Our other challenge is achieving higher, sustainable economic growth so New Zealanders can enjoy opportunities, jobs and higher incomes in this country.
The Government expects the Treasury to help it create and cement in place policies so that the recovery results in an improvement in long-term economic performance. Like all other State agencies, the Treasury must do its work within tight financial constraints. The Government also expects the Treasury to support effective decision-making and management of the State sector.
The Government has identified six key drivers of economic performance:
- Investing in productive infrastructure.
- Removing red tape, improving regulation.
- Supporting business innovation and trade.
- Improving education, lifting skills.
- Lifting productivity and improving services in the public sector.
- Strengthening the tax system.
Work by the Treasury outlined in this Statement of Intent will be crucial to achieving progress on these drivers of economic performance. I will be looking to the Treasury to encourage the State sector to play a leading role in this process.
This Statement of Intent sets out what the Treasury will do to help the Government achieve results in its priority areas. The Treasury's work in the near term, and particularly its work on infrastructure and State sector productivity, will deliver not only immediate benefits but also provide a stronger foundation for our economy over the next decade.
I am satisfied that the information on future operating intentions provided by the Treasury in this Statement of Intent and the Information Supporting the Estimates is in accordance with sections 38, 40 and 41 of the Public Finance Act 1989 and is consistent with the policies and performance expectations of the Government.
Hon Bill English
Minister of Finance
