Foreword: Minister of Finance
Over the next five years the Government will continue to rebuild from the shocks that have buffeted the economy in recent years, including the global financial crisis and the Canterbury earthquakes. We will also seek to leverage the many positive factors for growth - such as buoyant prices for our commodity exports and strong trading partner growth - to move the economy onto a faster medium term growth track.
Helping support and rebuild Christchurch is one of the most important things the Government will do over the next several years but it is important that we don't allow responses to these disasters to dominate long-term policy. The basic issues that New Zealand faces and the imbalances that affect the economy are just as relevant now as they were before the disasters.
The Government will press on with its broader economic programme to reduce vulnerability to changes in the sentiment of foreign lenders, get the Government's finances in order and build a faster growing economy that is based on export earnings and higher national savings.
Long-term policy and spending decisions must be made on their own merits, not on short-term expediency. The Government is still borrowing large sums to pay for the public services and welfare entitlements that New Zealanders need and expect. Our ongoing challenge is to achieve 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 design and implement policies to ensure that recovery leads to an improvement in long-term economic performance. The Government also expects the Treasury to support effective decision-making and management of the State sector and carry out those operations entrusted to it with the highest standards of professionalism.
This Statement of Intent sets out what the Treasury will do to help the Government achieve its objectives of making progress on its near-term objectives and long-term goal of growing the country's economic performance.
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
