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New Zealand Budget 2014

2014 New Zealand Government Budget 

For the Government, today’s Budget is about consolidating the gains from its policies to date and making the most of the opportunities from a growing economy. We call this setting a glide path to prosperity.

 

The twin focuses of this Budget are early interventions in the health, education and justice areas to achieve significant long term economic and social outcomes and creating and sustaining a favourable business environment, with additional investment in infrastructure, R&D and skills, and through prudent debt and fiscal management by Government.

Many of the tough decisions, including reining in Government spending and some bold tax reform measures, were taken at the start of its first term. The Government has also had to deal with a few unexpected challenges, in the form of the Canterbury earthquakes and the rebuild. They’ve navigated these challenges well.

 

In the main, the Government will be satisfied with its approach to date and today has shown it is continuing with its previous direction. Budget 2014 shows growth, spending, tax and debt are all on the right track with a return to surplus in 2014/15 achieved. There is additional funding in the Budget for core areas, like health and education and infrastructure, but this is within the Government’s restraints on new spending each year.

 

This is a Budget for the times, not election year largess.

A selection of articles you might be interested in...

NZ Government Budget 2014

NZ BUDGET 2014 OVERVIEW

With many of the tough decisions now behind us, Government is looking to consolidate the gains and maximise the opportunities from a growing economy.

 

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BETTER HEALTH CARE AT THE SAME COST

The message for the healthcare sector is new money will only be made available where there are demonstrable benefits for the healthcare of individuals

 

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STAY UP TO DATE WITH TAXMAIL

Get the latest news/updates with KPMG Taxmail. Subscribe to receive Taxmail direct in your Inbox

 

Budget 2014 what's in it for small business

WHAT'S IN IT FOR SMALL BUSINESS?

A vibrant, high-performing, SME sector is critical to New Zealand’s prosperity. What does Budget 2014 have in store for the sector?

 

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2014/15: THE YEAR WE START PAYING BACK MORTGAGE

Budget 2014, we expect to see the Government continue to promote fiscal restraint and the need to pay down our mortgage. More about what to expect from Budget 2014.

 

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2014 AUSTRALIAN BUDGET IS OUT

The budget focussed on raising revenue and reducing deficits. Key points include introduction of fuel excise, increased personal tax for high income earners and reduced company tax. For a full brief on the Australian budget, visit kpmg.com/au

 

Budget 2014 investing in future

INVESTING TODAY FOR LONG-TERM SOCIAL RETURNS

Hurdle for new social spending initiatives remains high, but education, parental support, housing and health all pass muster.

 

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MONETISING THE GOVERNMENT'S BALANCE SHEET

The Government is becoming more of an investment holding company and fund manager rather than just the manager of physical assets. Read more.

 

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KPMG's Budget 2014 Panel

Ross BuckleyRoss Buckley
Executive Chairman
+64 9 367 5344
rjbuckley@kpmg.co.nz
Paul DunnePaul Dunne
National Managing Partner - Tax
+64 9 367 5991
pfdunne@kpmg.co.nz
Paul McPadden - Private EnterprisePaul McPadden
National Managing Partner - Private Enterprise
+64 9 367 5919
pmcpadden@kpmg.co.nz
Adrian WimmersAdrian Wimmers
Partner - Infrastructure
+64 4 816 4681
awimmers@kpmg.co.nz
Souella CummingSouella Cumming
Partner - Government
+64 4 816 4519
smcumming@kpmg.co.nz
Darshana ElwelaDarshana Elwela
National Director - Tax
+64 9 367 5940
delwela@kpmg.co.nz