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Statement on the long term fiscal position

He Tirohanga Mokopuna 2021 - Feedback

Issue date: 
Wednesday, 29 September 2021
Version note: 

Summary of feedback received on the draft for consultation of the Long-term Fiscal Statement and Long-term Insights Briefing

Corporate author: 
Document Date: 
Wednesday, 29 Sep 2021
Publication category: 

Formats and related files

This year we have combined the Long-term Fiscal Statement (LTFS) with the Treasury’s first Long-term Insights Briefing (LTIB). Producing an LTIB is a new requirement under the Public Service Act 2020 for all government agencies, and legislation requires us to consult with the public on both the scope and draft of the briefing.

The first phase of consultation on the LTFS focused on the proposed scope of the Statement. We provided a consultation document that outlined the proposed subject matter for the 2021 Statement. Submissions on this document were invited over a four week period and interviews were held with subject matter experts in fields such as retirement, productivity, economic forecasting, and business. We received a range of feedback on the proposed topics of the Statement, as well as on possible policy directions government could take.

The second phase of consultation was on the draft of the Statement, which was released in early July. This phase involved broader consultation which included public submissions, engaging with Māori and Pacific groups as well as university students to get a youth perspective, and targeted engagements with subject matter experts on key themes such as demographic change, retirement policy and climate change. We received a lot of feedback covering many aspects of the draft Statement, which are summarised in the following document:

The Treasury would like to thank everyone who made submissions and those we met with through both phase 1 and phase 2 consultation. The feedback has been highly valuable in helping to shape and inform the final document. Given the breadth of feedback, we have not been able to reflect all of it in the final document, but it will still help to inform our future policy advice and development of future stewardship products such as the Wellbeing Report, which will be published next year.

Last updated: 
Wednesday, 3 November 2021