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Global > New Zealand > Insights > 2012 Government Budget > 2011 Government Budget

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2011 Government Budget

Are we keeping pace?

Finance Minister Bill English has delivered Budget 2011 at a time when the New Zealand economy is struggling with a sluggish recovery, the impact of two Christchurch earthquakes, and fallout from finance company failures. Last year’s Budget implemented a range of radical tax reforms to realign the economy away from consumption, and towards savings and investment. What was needed this year was a clearer articulation of the Government’s strategic destination for the country.

Deloitte’s team of experts has analysed the content of Budget 2011 and the likely impact of the major announcements on New Zealand business and the wider economy. Specifically, we have looked in-depth at the nation’s bank account, what this Budget means for taxpayers, changes to KiwiSaver, and plans for partial asset sales and infrastructure spend.

For full commentary and analysis of the Budget's key elements, download:
Budget 2011 - Are we keeping pace?

What our experts have to say

Partial state asset privatisation a step in right direction
Plans to partially privatise state-owned electricity generators and mining company Solid Energy have been welcomed by Deloitte energy and infrastructure leader Paul Callow.

KiwiSaver tinkering adds compliance costs to business
The compliance costs for businesses of administering KiwiSaver contributions continue to mount with each change to the scheme.

“Boring” fiscal conservatism takes a deserved front seat
Today’s Government Budget has mirrored the “new normal” in terms of global trends – relatively “boring fiscal conservatism” – but that’s not such a bad thing.

The little devil in the detail
“There’s a little tax devil in the detail of Budget 2011 around future policy reform targeted at mixed use assets – read as planes, boats and holiday homes,” says Thomas Pippos.