Jump to content

2011 New Zealand budget

From Wikipedia, the free encyclopedia
2011 (2011) New Zealand budget
Submitted byBill English
ParliamentParliament of New Zealand
PartyNational
Total revenueIncrease $57 billion[1]
Total expendituresIncrease $72.8 billion[1]
DeficitDecrease -$16.7 billion[1]
DebtDecrease $41.5 billion (Net)[1]
Decrease 20.8% (Net debt to GDP)[1]
ǂNumbers in italics are projections.
‹ 2010
2012

The New Zealand budget for fiscal year 2011-2012 was presented to the New Zealand House of Representatives by Finance Minister Bill English on 19 May 2011.[2]

This was the third budget Bill English has presented as Minister of Finance.

Outline

[edit]

Budget 2011[3] was delivered following earthquakes which devastated Christchurch and included a $5.5 billion rebuild package for the city.

The 2011 Budget was a "zero Budget" meaning no net new spending over four years. $5.2 billion was prioritised over four years for spending on mostly targeted at health, education and infrastructure. Individual and employer KiwiSaver contributions were increased.

The Budget announced the part-sale of five state-owned enterprises with the Government keeping majority (51%) control.

The 2011 Budget forecast a return to fiscal surplus to 2014/15.

References

[edit]
  1. ^ a b c d e "Budget 2011 - Minister's Executive Summary" (PDF). 19 May 2010. Archived from the original (PDF) on 13 February 2016. Retrieved 20 March 2015.
  2. ^ "Budget 2011". New Zealand Treasury. 19 May 2010. Retrieved 20 March 2015.
  3. ^ "Budget 2011 home page". The Beehive. 19 May 2010. Archived from the original on 20 January 2015. Retrieved 20 March 2015.