Special Feature: Budget 2011

The 2011 Budget was released on Thursday 19 May.

It focuses on three main areas:

Building faster economic growth around higher national savings
Setting a credible path back to surplus and repaying debt
Rebuilding Christchurch over the next few years.

At the same time, the National-will Government will continue to protect the most vulnerable New Zealanders, by increasing funding for health and education, and maintaining a range of welfare and other programmes such as New Zealand Superannuation.

Overview of Budget 2011 from Prime Minister John Key and Finance Minister Bill English

Budget 2011 – Hon Bill English’s powerpoint presentation (ppt 215.5 KB)

Friday 3 June

Tariana Turia
$7.3 million for new sexual health initiatives
Budget 2011 delivers $7.3 million of reprioritised funding over four years to drive more effective, more efficient services for sexual and reproductive health.

Monday 23 May 2011

Hon Kate Wilkinson
$1.5m to complete trail from Cape Reinga to Bluff
The Department of Conservation will receive $1.5 million in Budget 2011 to help the Te Araroa Trust substantially complete the Te Araroa Trail Long Pathway from Cape Reinga to Bluff, Conservation Minister Kate Wilkinson says.

Tariana Turia
Budget 2011 - New initiative to support community-led development
Community and Voluntary Sector Minister Tariana Turia today announced a new initiative to support community-led development.

Friday 20 May 2011

John Key
Post-Budget Speech: Trans-Tasman Business Circle
I am very proud to be leading a Government that is doing the right thing by New Zealanders.

Bill English
English takes Budget message to investors
Finance Minister Bill English leaves on 23 May for Singapore and Hong Kong, where he will speak to business, investment and political leaders about New Zealand’s progress in building faster growth and higher national savings.

Paula Bennett
More funding for children in care
Social Development Minister Paula Bennett has announced $43.7 million for services for children in care as part of the Government’s focus on children.

Releases on Budget Day, 19 May 2011

Prime Minister John Key

Responsible, balanced Budget for the times

Prime Minister John Key says Budget 2011 sets out the next steps of the Government’s programme to build faster growth, increase national savings and create sustainable jobs built on savings, exports and productive investment.

Hon Bill English

Building Our Future
Budget 2011 builds a platform for savings and growth, sets a faster return to surplus

Govt infrastructure investment picks up speed
New Zealand's broadband, rail and schools are top priorities for about $1.6 billion of further infrastructure spending in Budget 2011, Infrastructure Minister Bill English says.

KiwiSaver – how changes affect New Zealanders

Budget frees up $5.2b for higher priorities
Budget 2011 has freed up $5.2 billion out to 2014/15 – including $700 million in 2011/12 - to invest in improving frontline public services and reducing debt, Finance Minister Bill English says.

Budget takes steps to lift savings, investment
The Government has confirmed several measures to increase national savings, including mapping a faster path back to budget surplus and providing New Zealanders with a wider range of investment opportunities.

Government to pursue mixed ownership model
The Government believes there is significant merit in extending the mixed ownership model to four state-owned energy companies and reducing the Crown’s majority shareholding in Air New Zealand.

Changes to better target Working for Families
The Government is making changes that will better target Working for Families to lower income earners and ensure its cost remains sustainable into the future, Finance Minister Bill English, Social Development Minister Paula Bennett and Revenue Minister Peter Dunne say.

Freeing up $980m to improve frontline services
The Government expects the wider state service to find $980 million in savings over three years to go towards improving frontline public services and reducing debt, Finance Minister Bill English says.

Earthquake Kiwi Bond to help fund recovery
The Government will launch a new Earthquake Kiwi Bond to help fund the recovery in Christchurch and provide investors with a new savings option, Finance Minister Bill English says.

Greater level of private savings for KiwiSaver
Changes to KiwiSaver will encourage a higher level of private savings, make the scheme more financially sustainable and build a large pool of local capital, Finance Minister Bill English and Revenue Minister Peter Dunne say.

Fact sheet – Working for Families changes

Budget builds growth platform, path to surplus
Budget 2011 builds a strong platform for jobs and growth, sets a credible path back to surplus by 2014/15 and helps increase national savings, Finance Minister Bill English says.

Fact sheet – KiwiSaver changes

Working for Families – how 1 April 2012 changes affect New Zealanders

Hon Gerry Brownlee

Budget funds new earthquake recovery authority
The new Canterbury Earthquake Recovery Authority (CERA) will receive $25.5 million of funding over two years, Earthquake Recovery Minister Gerry Brownlee says.

$5.5b for Canterbury Recovery Fund
Budget 2011 delivers $5.5 billion over six years for the Government’s new Canterbury Earthquake Recovery Fund, Earthquake Recovery Minister Gerry Brownlee says.

Hon Simon Power

Investors benefit from new market regulations
The Government’s new regulatory framework for financial markets contributes to Budget 2011’s focus on savings and investment.

Govt tops up community law centre funding
The Government will top up funding for community law centres to ensure they continue to provide access to justice for vulnerable people, Justice Minister Simon Power says.

Extra short-term Budget funding for legal aid
Budget 2011 includes $103.5 million of new spending for legal aid over the next two years while the Government addresses longer-term sustainability issues facing the system.

Extra $157m to help make communities safer
The justice sector is to receive $157 million in new funding over the next two years in Budget 2011 to ensure access to justice and increase public safety, Justice Minister Simon Power says.

Hon Tony Ryall

$68m for more elective surgery operations
Budget 2011 is delivering a further $68 million over four years to increase funding for elective surgery.

$2.2b extra to boost public health services
Budget 2011 is delivering an extra $2.2 billion to public health services over the next four years, including an additional $585 million in initiatives in 2011/12.

$44m extra in Budget 2011 for dementia care
Budget 2011 delivers an extra $44 million over four years to look after people living with dementia.

Patients to benefit from more medicines funding
Budget 2011 is delivering the final part of the Government's election commitment to increase the pharmaceuticals budget by $180 million over three years, Health Minister Tony Ryall says.

Hon Judith Collins

$8.3m for fight against serious fraud
The Government has allocated more than $8 million in funding for the Serious Fraud Office over two years to continue the fight against white collar crime, the Minister Responsible for the SFO Judith Collins says.

Container cell block exceeds expectations
The first prison unit built of recycled shipping containers in New Zealand has outperformed expectations in its first year of operation, Corrections Minister Judith Collins said today.

Hon Anne Tolley

$1.4b extra for schools, ECE in Budget 2011
Budget 2011 invests a significant amount of additional funding in education during constrained fiscal times, Education Minister Anne Tolley says.

Extra $550m to improve families’ access to ECE
The Government will invest an extra $550.3 million in early childhood education over the next four years, to allow as many families as possible to access quality services where they are needed the most, Education Minister Anne Tolley says.

Extra $621m for schools over four years
Budget 2011 delivers significant investment to lift achievement in schools and keep students engaged to gain worthwhile qualifications, Education Minister Anne Tolley says.

Hon Wayne Mapp

More support in Budget 2011 for business R&D
The Government is reprioritising $36 million over four years for business research and development, commercialisation and earthquake research, Science and Innovation Minister Wayne Mapp says.

Hon Steven Joyce

Student loans – better value for taxpayers
Encouraging personal responsibility and getting better value for taxpayers are key features of Budget 2011 changes to the student loan scheme, Tertiary Education Minister Steven Joyce and Revenue Minister Peter Dunne say.

Budget 2011 commits to rail turnaround
Budget 2011 commits more than $338 million to improving commuter rail services and supporting KiwiRail to become more commercially viable.

Govt delivers $1b for broadband commitment
Budget 2011 provides nearly $1 billion to advance the Government’s flagship ultra-fast broadband and rural broadband initiatives, which are key drivers of productivity and economic growth.

Budget focuses on success in tertiary education
Budget 2011 continues the Government’s drive for high performance, value for money and the flexibility to respond to demand in the tertiary education sector, Tertiary Education Minister Steven Joyce says.

Hon Paula Bennett

$10m Budget support for Canterbury families
Budget 2011 provides an extra $10 million to support Cantabrians rebuilding their lives and communities after the earthquake, Social Development Minister Paula Bennett says.

Extra funding will help Kiwis into work
A $15 million boost for employment assistance programmes in Budget 2011 will help more people into work, Social Development Minister Paula Bennett says.

Community social services get $25m boost
Community social services will get a $25 million boost from the Government’s Community Response Fund, Social Development Minister Paula Bennett says.

Hon Phil Heatley

Budget supports increase in affordable housing
Increasing the pool of affordable and social housing is a key priority for the Government, Housing Minister Phil Heatley says.

Hon Maurice Williamson

Budget invests in better systems for Statistics NZ
Statistics New Zealand will receive $58 million in new operating funding over the next four years from Budget 2011 to ensure the ongoing supply of important economic and social data, Statistics Minister Maurice Williamson says.

Budget funding will continue SmartGate success
Budget 2011 includes an extra $3.5 million in operational funding for SmartGate, Customs Minister Maurice Williamson says.

Hon Nathan Guy

$27.6m for improved online government services
New Budget funding of $27.6 million over the next two years for igovt services will help deliver better public services more efficiently.

Hon Pita Sharples

Supporting Māori educational achievement
Budget 2011 will provide significant capital and operational funding to strengthen delivery of school and community-based Māori language initiatives, Associate Education Minister Pita Sharples says.

Budget maintains momentum for Māori Affairs
Budget 2011 will ensure the Government maintains momentum with its Māori Affairs programmes, which are delivering encouraging results, Māori Affairs Minister Pita Sharples says.

Hon Tariana Turia

$12m boost to reduce rheumatic fever
Associate Health Minister Tariana Turia today announced a $12 million programme to reduce the rates of rheumatic fever in more vulnerable communities.

Whanau Ora to expand with nationwide coverage
The Government will invest an additional $30 million in Whanau Ora over the next four years, including $11.25 million in the coming year, Whanau Ora Minister Tariana Turia says.

Hon Peter Dunne

Budget proposals to make tax system fairer
Budget 2011 signals measures to ensure fairer treatment of employee benefits, new rules for mixed-use assets, and a new approach to livestock valuation elections for farmers, Revenue Minister Peter Dunne says.

$119.3m of tax compliance funding pays off
The $119.3 million allocated over four years in Budget 2010 to help Inland Revenue chase down tax evaders has already helped assess or bring in an additional $115.2 million of tax in the first nine months.

New thin capitalisation rules for foreign banks
The Government will change the thin capitalisation rules for foreign-owned banks, with the minimum prescribed percentage of equity for tax purposes increasing from 4 per cent to 6 per cent from 1 April 2012.

Pre-Budget Announcements

12 May 2011
Hon Steven Joyce
Budget 2011: Canterbury trades training boost
Budget 2011 will provide up to $42 million for trades training for the Canterbury region, Tertiary education Minister Steven Joyce says.

11 May 2011
Prime Minister John Key
Pre-Budget Speech: Fujitsu – Business NZ Luncheon
I want to start by thanking Business New Zealand for co-hosting this lunch.

11 May 2011
Prime Minister John Key
Budget 2011 will be responsible, affordable
Prime Minister John Key today said Budget 2011 will be responsible and measured, and ensure expensive programmes like KiwiSaver, Working for Families and interest-free student loans are affordable into the future.

10 May 2011
Hon Bill English
Budget to rein in deficit, set path to surplus
The Budget next week will set a credible path back to budget surplus, after Government financial statements today confirmed a $10.2 billion operating deficit before gains and losses for the nine months to 31 March, Finance Minister Bill English says.

09 May 2011
Hon Nick Smith
Budget 2011: New fresh water clean-up fund
Environment Minister Nick Smith today announced the establishment of a new contestable fund to help councils and communities clean-up nationally significant water bodies polluted by poor historic management.

09 May 2011
Hon David Carter
Budget 2011: Lifting investment in irrigation
Agriculture Minister David Carter today announced an expanded irrigation fund to support the development of new water harvesting, storage and distribution infrastructure.

05 April 2011
Hon Tony Ryall
Budget 2011: $54.5m extra for mothers, babies
The Government today announced new initiatives for maternity services and to help new mothers and their babies.

04 April 2011
Hon Paula Bennett
Budget 2011: Helping young people into jobs
The Government is investing $55.2 million to get young people into jobs, Social Development and Employment Minister Paula Bennett says.

27 April, 2011
Hon Bill English, Minister of Finance
Budget will map credible path back to surplus
The Government agrees with the OECD that New Zealand should return to budget surplus as soon as possible and the Budget next month will take steps in that direction, Finance Minister Bill English says.

12 April, 2011
Hon Bill English, Minister of Finance
Speech to the Wellington Employers’ Chamber of Commerce
Good afternoon and thank you to the Wellington Employers’ Chamber of Commerce for inviting me back to speak to you this year.

12 April, 2011
Hon Bill English, Minister of Finance
Govt to spend $8.5b on rebuilding Christchurch
The Government will spend about $8.5 billion over the next few years to help the rebuilding of Christchurch, Finance Minister Bill English said today.

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Special Feature: Budget 2011