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8. Monitoring, evaluation and review
- The spending cap proposal includes a specific monitoring mechanism whereby the government has to report on how actual costs compare to those specified by the cap. This review will happen after the release of the Annual Financial Statements and will appear in the Budget Policy Statement. The proposal also explicitly requires the government to review the spending cap every six years to ensure it is appropriate for the economic and demographic circumstances applying at the time taking into account the principles of fiscal responsibility. The results of this review would be announced in the Fiscal Strategy Report following the review.
- The proposals also contain a requirement for the government to undertake an ex post review of its performance against its fiscal strategy. The outcome of this review will be published each year in the Fiscal Strategy Report.
- The Treasury will continue to monitor the performance of New Zealand's fiscal frameworks as part of its normal course of business.
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