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Statement of Intent 2014-2019

What We'll Do

Our Intermediate Outcomes

In order to achieve the outcomes outlined above the Treasury will focus on six intermediate outcomes over the next few years. These represent the priority areas for the Treasury. These intermediate outcomes are:

  • New Zealand has an internationally connected and competitive business environment
  • people have the skills and support to participate in the economy
  • outcomes for Māori are improved
  • the State sector delivers results for New Zealanders
  • the balance sheet is managed effectively and efficiently
  • the economic cycle is managed such that pressures on interest rates and the exchange rate are moderated.

The Treasury has identified these priorities from its strategic work on medium-term economic priorities and the Investment Statement[6]; along with the work conducted with SSC, DPMC and other State sector agencies on a strategy for the State sector.

Alongside these priority areas, the Treasury has a stewardship role in ensuring it is well placed to provide advice to future governments. This involves undertaking work to determine what the next set of initiatives will be to achieve improved economic performance, a higher performing State sector and a stable and sustainable macroeconomic environment.

Work in this area includes policy advice on the macroeconomic and financial stability framework; medium-term economic strategy; medium-term State sector strategy; and the research undertaken to support this advice.

The diagram on the following page provides a high level representation of the Treasury's intermediate outcomes. There are no arrows between the intermediate outcomes and the high-level outcomes as each intermediate outcome contributes towards multiple high-level outcomes. Pages 14-25 provide more detail on each intermediate outcome.

How We Will Demonstrate Performance

This Statement of Intent was produced under the recent amendments to the Public Finance Act 1989. As a result it looks slightly different this year. It is focused on telling the Treasury's strategic story: what it wants to achieve and how it will achieve it. It is less focused on how well it is currently performing and setting out how it will demonstrate performance. The SOI will be presented to the House at the same time as the Treasury's Annual Report. Together these two documents will tell a comprehensive story of the Treasury's performance from a retrospective and forward looking perspective.

There are two key elements to how the Treasury will demonstrate its performance. The first is how well it is doing against what it wants to achieve, as set out in this document. A number of the measures for demonstrating how well the Treasury has performed against its 2014/15 objectives are still under development. The second element is how well the Treasury is delivering its outputs. How the Treasury will assess performance against its outputs is set out in the Vote Finance 2014/15 Estimates.

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