Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/205465 
Year of Publication: 
2001
Series/Report no.: 
New Zealand Treasury Working Paper No. 01/24
Publisher: 
New Zealand Government, The Treasury, Wellington
Abstract: 
Budget management in New Zealand altered substantially with the implementation of the Public Finance Act 1989 and the Fiscal Responsibility Act 1994. The paper sets out the evolution of fiscal and budget management over the last ten years, in response to the fiscal policy and financial management framework. It focuses on the top-down management of spending aggregates and how this has evolved into the "fiscal provisions" framework. The paper concludes with an illustration of the challenges facing the provisions framework. Work is currently underway to consider the challenges that have arisen through its operation over the last five years. This paper is a companion paper to Treasury Working Paper 01/25 New Zealand's Fiscal Policy Framework: Experience and Evolution by John Janssen.
Subjects: 
Fiscal provisions
fixed nominal baselines
JEL: 
E62
H61
Creative Commons License: 
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Document Type: 
Working Paper

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