New Zealand is in good fiscal shape and the budget on track back to surplus. However, demographic change means we cannot afford to be complacent.
As our population gets older, it will put pressure on public finances. An ageing population does not only mean higher spending on superannuation and healthcare; it also slows down economic activity and entrepreneurship.
To deal with these challenges, we need to make preparations now.
Guarding the public purse analyses ways in which New Zealand can make its public finances more sustainable. This includes putting more emphasis on productivity growth, promoting competition and strengthening New Zealand’s fiscal rules and institutions.
In particular, the authors recommend establishing an independent fiscal council to keep spending decisions under scrutiny – and to effectively guard the public purse.
Date: Monday, 24 November 2014
Time: 5.45 PM - 8.00 PM
Location: The New Zealand Initiative, Level 12, 36 Brandon St, Bayleys Building, Wellington