Budget to set the path for the future
Napier Dail Mail Article for 5 May 2009
The May Budget will be a big step in lifting New Zealand’s economic performance.
I welcomed the recent speech by Finance Minister Bill English, setting the tone for the Budget on May 28. As a result I thought I would pen a note this week summarising that speech to ensure you are kept in the loop. This budget spends your taxes so it’s really important that you are informed.
The focus of Bill's speech was in making sure New Zealand comes out of this recession strong and ready to thrive.
The Government's approach has three main themes:
Removing the regulatory roadblocks to growth in the economy
Investing in productive infrastructure to lift our economic performance
Making sure the Government and public service are doing their job better, smarter and more cost effectively
The Government has aspirations for an economy that values enterprise, rewards people for effort, and encourages people to get ahead under their own steam.
Big steps have already been taken since we came into office just over 5 months ago – we’ve started on reforming unwieldy legislation, increased infrastructure spending, provided assistance for the small and medium businesses that are the life-blood of our country, and are focusing on getting value for money from our public services.
The Budget will unveil the next steps towards lifting the nation’s performance and setting out a credible road to economic recovery.
National has inherited a stalled economy. Since 2000 productivity growth has been a meager 1 percent a year. Since 2004 growth in government spending has risen by 51 percent to $63.5 billion a year, massively outstripping economic growth of 23 percent over the same period.
It is our job as Government to responsibly manage the Government’s books. The recession is very real, as many of us are experiencing firsthand. New Zealand faces losing $50 billion of output from its economy over the next three years. This is $50 billion that we cannot recover.
We are determined to create the right conditions for a strong economic recovery. Debt must be managed, entitlements must be protected, and we must create a government sector that provides better services and delivers better value for taxpayers.
The Budget will include considerable new spending aimed at boosting economic growth. But instead of simply increasing spending, our focus will also be on reprioritising spending to ensure we meet election commitments, maintain entitlements and develop better frontline services. The extension of the HB Expressway are a great example of this.
I am proud of what National is doing to support New Zealand and Hawke’s Bay through this difficult time, and I remain optimistic that the resilience of New Zealanders will ensure we come out of this recession in the best possible shape.
Napier Dail Mail Article for 5 May 2009
The May Budget will be a big step in lifting New Zealand’s economic performance.
I welcomed the recent speech by Finance Minister Bill English, setting the tone for the Budget on May 28. As a result I thought I would pen a note this week summarising that speech to ensure you are kept in the loop. This budget spends your taxes so it’s really important that you are informed.
The focus of Bill's speech was in making sure New Zealand comes out of this recession strong and ready to thrive.
The Government's approach has three main themes:
Removing the regulatory roadblocks to growth in the economy
Investing in productive infrastructure to lift our economic performance
Making sure the Government and public service are doing their job better, smarter and more cost effectively
The Government has aspirations for an economy that values enterprise, rewards people for effort, and encourages people to get ahead under their own steam.
Big steps have already been taken since we came into office just over 5 months ago – we’ve started on reforming unwieldy legislation, increased infrastructure spending, provided assistance for the small and medium businesses that are the life-blood of our country, and are focusing on getting value for money from our public services.
The Budget will unveil the next steps towards lifting the nation’s performance and setting out a credible road to economic recovery.
National has inherited a stalled economy. Since 2000 productivity growth has been a meager 1 percent a year. Since 2004 growth in government spending has risen by 51 percent to $63.5 billion a year, massively outstripping economic growth of 23 percent over the same period.
It is our job as Government to responsibly manage the Government’s books. The recession is very real, as many of us are experiencing firsthand. New Zealand faces losing $50 billion of output from its economy over the next three years. This is $50 billion that we cannot recover.
We are determined to create the right conditions for a strong economic recovery. Debt must be managed, entitlements must be protected, and we must create a government sector that provides better services and delivers better value for taxpayers.
The Budget will include considerable new spending aimed at boosting economic growth. But instead of simply increasing spending, our focus will also be on reprioritising spending to ensure we meet election commitments, maintain entitlements and develop better frontline services. The extension of the HB Expressway are a great example of this.
I am proud of what National is doing to support New Zealand and Hawke’s Bay through this difficult time, and I remain optimistic that the resilience of New Zealanders will ensure we come out of this recession in the best possible shape.
