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Fiscal toolkit

Audit New Zealand and Office of the Auditor-General's central government sector update.

Constraining spending	Raising revenue
FOR EXAMPLE: Programme reductions/changing policy settings Addressing long-term pressures, e.g. health and justice sector Reducing new spending Efficiency gains	FOR EXAMPLE: Increasing thresholds Introducing capital gains tax; increasing GST Increasing excise duties Increasing revenue from other sources (e.g. user pays)
Balance sheet options	Improving economic growth
FOR EXAMPLE: Contributions holidays from the Super Fund Getting better returns from SOEs: holdings, gearing, dividends Taking a stronger risk management approach across NZSF, EQC, GSF etc.	Limited ability for direct government influence Want to position NZ to grow strongly when we come out of recession Impact is muted as a strong link between economic growth and growth in government expenditure