Submitted by Bill English Total revenue $57 billion Deficit -$16.7 billion | Party National Total expenditures $72.8 billion | |
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Parliament Parliament of New Zealand | ||
The New Zealand budget for fiscal year 2011-2012 was presented to the New Zealand House of Representatives by Finance Minister Bill English on 19 May 2010.
This was the second budget Bill English has presented as Minister of Finance.
Outline
Budget 2011 was delivered following earthquakes which devastated Christchurch and included a $5.5 billion rebuild package for the city.
The 2011 Budget was a "zero Budget" meaning no net new spending over four years. $5.2 billion was prioritised over four years for spending on mostly targeted at health, education and infrastructure. Individual and employer KiwiSaver contributions were increased.
The Budget announced the part-sale of five state-owned enterprises with the Government keeping majority (51%) control.
The 2011 Budget forecast a return to fiscal surplus to 2014/15.