Finance Minister to present Budget on 21 May

  • Bill English
Finance Budget 2015

Budget 2015 will be presented on Thursday, 21 May, Finance Minister Bill English said today.

“This will be the National-led Government’s seventh Budget and our ongoing commitment to spending restraint means the public finances continue to improve significantly each year.

“Since we were first elected in 2008, we have seen the economy move from a recession to sustained growth, and New Zealanders are now being assisted by low unemployment, stable low interest rates and wages that are growing faster than inflation.

“Budget 2015 will focus on building on the good progress we’ve made across our priority areas of carefully managing the Government finances, improving public services particularly for the most vulnerable, supporting Christchurch and building a more competitive and productive economy.

“It will also continue to implement the Government’s programme to return to fiscal surplus, pay down debt and build a buffer against the next global shock.

“The Operating Balance Before Gains and Losses (OBEGAL) deficit has shrunk significantly from a peak of 9 per cent of GDP in 2010/11. We will know in October, when the final Crown accounts are published, whether a surplus was achieved 2014/15.

“The global economic environment remains uncertain, and this makes it even more important to maintain responsible fiscal management. Budget 2015 will do that,” Mr English says.