Reviews and Consultation

Saving New Zealand: Reducing Vulnerabilities and Barriers to Growth and Prosperity: Final Report to the Minister of Finance

The Savings Working Group presented its final report to the Minister of Finance in January 2011. The Minister of Finance authorised the final report to be released here on 1 February 2011.

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Letter from Savings Working Group#

Readers' guide#

Part 1#

  • Overview#

  • Conclusions#

  • Recommendations#

Part 2#

Part 3: Additional reference material#

Dear Minister

We are delighted to complete this Report for you.

In the time available it required an intense effort and I thank everyone who contributed to it, in particular, the members of this Group and its secretariat.

The Report presents well-considered, robust and, where necessary, pragmatic views on economic policy and saving issues which we consider merit serious consideration, especially in the current economic and financial market context. However, some of our recommendations do require further detailed fiscal analysis, which we did not have time to complete.

While our Terms of Reference excluded some issues this was not a significant constraint as our views on them are implicit in our higher-level analysis.

Our views will challenge some strongly held and entrenched attitudes, and differ in some areas from genuinely held perspectives where the position is not helped by data difficulties. However, we are confident in the merits of the views in our Report, as a sound and realistic basis for policy.

Best wishes

Kerry McDonald
Savings Working Group

Members of the Savings Working Group

Kerry McDonald MCom(Hons) DCom(hc) FAICD AFIOD – Chairman
Company Director

Dr Craig Ansley PhD FIA
Visiting Professor, Macquarie University

Dr Andrew Coleman PhD
Senior Fellow, Motu Economic and Public Policy Research
Senior Lecturer, Department of Economics, University of Otago

Mary Holm MBA
Financial Columnist and Author

Dr John McDermott PhD
Assistant Governor, Reserve Bank of New Zealand

Paul Mersi BCA
Financial Services Consultant

Stephen Toplis MSocSci
Head of Research, Bank of New Zealand

Secretariat: Treasury (Brian McCulloch, Geoff Lewis, Paul Rodway, Lisa Meehan, Jaime Alaimoana), Inland Revenue Department (Matt Benge, David Carrigan), Reserve Bank of New Zealand (Phil Briggs, Daan Steenkamp), Statistics New Zealand (Jeff Cope).

Readers' guide#

Part 1 – concise, higher level overview – not technical, an easy read.

Part 2 – the full story, more detail, technical in parts.

Part 3 – more detailed and technical supporting information for Part 2.

The presentation is designed to meet the needs of a variety of readers and this results in some repetition of important points.