Briefing to the Incoming Government 2005 - Sustaining Growth

Published on 16 Nov 2005

The briefing paper Sustaining Growth was the Briefing for the Incoming Government before the 2005 election, it aims to inform Ministers of the major issues Treasury sees facing New Zealand over the next few years. A Guide to The Treasury: Briefing to the Incoming Government 2005 was published at the same time but has since been withdrawn from the website as it is no longer current.

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Executive Summary Chapter 1: Economic context A decade of economic growth Forecasts for economic growth Increasing labour productivity is essential for growth Current growth rates are the result of a range of factors Other factors affect growth Chapter 2: Raising labour productivity and growth External linkages A sound business environment Skill levels and employment	big05-1.pdf (591 KB) pp. [1]1–26
Chapter 3: Macroeconomic management A sound macroeconomic framework Weak spots pose challenges New Zealand’s current fiscal position is strong Future fiscal challenges Getting a better mix in fiscal policy Reprioritisation of existing and future expenditure Chapter 4: Improving the performance of the public sector Ministers face spending pressures and rising expectations Getting value for money? Improving state sector performance Policy coherence and a long-term view Improve the availability and use of performance information Use the Budget to boost performance Improve central agency support for Ministers Focus on Crown entities	big05-2.pdf (684 KB) pp. 27–44
Table of Figures Figure 1: Real GDP per capita as a proportion of other countries’ GDP 5 Figure 2: A strong labour market Figure 3: Growth has been driven by employment Figure 4: Productivity and real wages Figure 5: New Zealand’s greenhouse gas emissions are rising rapidly Figure 6: Land transport funding has increased markedly Figure 7: Channels of influence of high marginal tax rates Figure 8: Marginal company tax rates Figure 9: Marginal personal tax rates Figure 10: Fewer students are leaving school with little or no attainment of skills Figure 11: Mature students have increased their participation but not school leavers Figure 12: Some beneficiary numbers have continued to rise Figure 13: Current account and net external liabilities Figure 14: The fiscal position is markedly stronger Figure 15: International fiscal trends Figure 16: Upward pressure on expenses Figure 17: Personnel expenses in the state sector Figure 18: Levels of Crown entity appropriations

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Briefing to the Incoming Government 2005 - Sustaining Growth

Contents

Executive Summary

Chapter 1: Economic context

Chapter 2: Raising labour productivity and growth

Chapter 3: Macroeconomic management

Chapter 4: Improving the performance of the public sector

Table of Figures