Bill English tagged posts
March 29, 2011 New Zealand Taxation
The government has approved several changes to the national tax system, in an effort to aid the wellbeing of families and businesses struck by the recent earthquake.
In a media statement jointly released by the Minister of Revenue Peter Dunne and the Minister of Finance Bill English, it was conceded that New Zealand’s tax system was not forseen to handle the repercussions of disasters to the scale of the Christchurch earthquake, and several proportional changes will be added in the face of new realities. Bill English explained, saying, “…with the end of the tax year rapidly approaching, businesses and employers in Christchurch and around New Zealand need some certainty about the tax issues arising from the Canterbury earthquakes.”
The New Zealand Inland Revenue Department (IRD) had...Read More
March 18, 2011 New Zealand Finance
New Zealand has been hard hit by its recent earthquake, and is expected to see some economic ill effects from the associated costs.
New Zealand will have to wait an extra year before returning to a budgetary surplus, and will have to endure a further widening of its deficit. The announcement was made by the New Zealand Minister of Finance Bill English while speaking at the ANZ Capital Markets Conference on March 17th.
In order to cover the repairs and arising costs from the recent Christchurch earthquake the government will have to resort to much greater levels of spending, raising the national budget deficit to approximately 8 percent of GDP, or a level of NZD 16 billion. The Minister stated that the country is not expected to see a budgetary surplus until 2016.
Bill English remained opti...Read More
August 11, 2010 New Zealand Finance
The New Zealand Government has said that the focus for the current economic recovery will be different than that of traditional recovery, with a focus on establishing sustainable long-term returns.
Tackling current imbalances in the New Zealand economy will not be a short-term task, and will require “relentless” long-term focus and policy reform. The analysis and the Government’s future policy outlook was released on August 11th, in a speech to the New Zealand Council for Infrastructure Development, by Bill English, Finance Minister of New Zealand.
The international credit environment is too constrained for New Zealand to readily address economic imbalances, and the recovery will be based on stable growth of earnings sectors, like exports...Read More
July 19, 2010 New Zealand Finance
The New Zealand Finance Minister has deflated any ideas of the Government implementing “big hit” economic reforms, until the country has adequately come out of the recession.
Within fifteen years, advanced economies like the US and the UK will face the repercussions and ill-effects from their recession-stage economic reforms and policies, according to Bill English, Finance Minister of New Zealand. Speaking at a National Party conference on July 16th, the Minister said that if over the coming five years New Zealand continues with a well-considered and consistent economic policies, the country will be “a stand-out” among developed economies.
Bill English warned delegates at the conference that New Zealand’s economic recovery would be a slow and incremental approach, without the “big...Read More