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5. Consultation
- Agencies most directly affected have been consulted on the proposals outlined in this RIS, namely the Ministry of Justice, Inland Revenue, Crown Law, and the Reserve Bank. The Ministry of Economic Development and the Department of Prime Minister and Cabinet were informed.
- No formal public consultation on the specific package of proposals outlined in this RIS has taken place. However, there has been considerable public and expert engagement on most of the more significant options outlined here, in particular:
- There was considerable public debate around the Spending Cap (People's Veto) Bill, which Treasury took into account in developing this analysis.
- In June 2011 the Treasury held a Macro-economic Conference in which a paper discussing the impact of fiscal policy on macro-economic stabilisation was discussed.[5] That paper was the starting point of many of the recommendations in this RIS. Comments on that paper have informed the proposal to include a new principle around macro stability as well as provided more rigorous analysis of the problems identified.
- Various consultations have been conducted with the IMF and the OECD on different elements of the proposals and they have provided useful information about the best practice internationally.
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