According to the New Zealand Treasury, the country is no longer facing a recession. The New Zealand economy is predicted to be out of its recessionary period according to the Treasury’s economic indicator report, released on the 7th of September. It is thought that the quarter ending September will be the last in which New Zealand will experience contracted economic indicators. The report was accompanied with the statement "A small decline in real gross domestic product in the second quarter is likely to ... Read More

An assistance group for the Government has been set up, with the aim of advising the government on the taxation system decisions and planning. It was announced by Finance Minister Bill English and Revenue Minister Peter Dunne that the “Tax Working Group” has been established and will assist the Government with policy decision changes. While the newly formed group will not have direct input into the decision making process for the Government, it will still be influential in its actions. Primarily the group ... Read More

The Governmental spending power is lower than the forecast pre-election figures, a lower tax revenue is blamed. According to the financial statements released by the New Zealand Government under the Public Finance Act 1989, the government is operating with a much lower monetary amount than previously predicted. Chief blame behind this rest with the lowered tax revenue experienced by the government, with figures of $29,344 million as opposed to the December forecast of $30,529 million. Similarly the Crown’s core expenses were almost ... Read More