2011 New Zealand budget

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]

2011 (2011) New Zealand budget
Submitted byBill English
ParliamentParliament of New Zealand
PartyNational
Total revenue $57 billion[1]
Total expenditures $72.8 billion[1]
Deficit -$16.7 billion[1]
Debt $41.5 billion (Net)[1]
20.8% (Net debt to GDP)[1]
ǂNumbers in italics are projections.
‹ 2010
2012 ›

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

Outline

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
  1. "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.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.