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Bradbury, Simon
Brumby, Jim
Skilling, David
Year of Publication: 
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New Zealand Treasury Working Paper No. 99/03
New Zealand Government, The Treasury, Wellington
The Fiscal Responsibility Act requires the Crown to articulate targets for a series of fiscal variables, including net worth. Given the dramatic improvement in the fiscal position in recent years, a critical policy question relates to how (and which) measures of Crown net worth should be targeted. This paper sets out a framework for targeting Crown net worth. It does so by supplementing the GAAP-based measure with forward-looking information about spending and tax revenue. The paper argues that targeting net worth for the Crown requires the estimation of a path, rather than a static level.
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Working Paper

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