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New Zealand Budget
The New Zealand Budget is an annual statement by the New Zealand Government that outlines of the nation's revenues and expenditures for the preceding fiscal year and expectations for the next one. It is prepared by the New Zealand Treasury for the Minister of Finance. The Budget is usually presented to the House of Representatives in May. Budget statement The Minister of Finance delivers the Budget statement, a speech in the House of Representatives with no time limit. In the Budget statement, the Minister may review the international economic outlook and the performance of the New Zealand economy, and outlines the Government's proposed economic and fiscal measures to deal with the assessed situation of the country. Changes to social policy may also be made by the Budget. The Minister of Finance then moves the second reading of the main Appropriation Bill. Associated parliamentary papers are also presented. These papers include the Estimates of Appropriations, which are papers o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Government
, background_color = #012169 , image = New Zealand Government wordmark.svg , image_size=250px , date_established = , country = New Zealand , leader_title = Prime Minister Jacinda Ardern , appointed = Governor-General , main_organ = , ministries = 32 ministries and departments , responsible = House of Representatives , budget = 119.3 billion (2018–19) , address = The Beehive and other locations across Wellington , url = The New Zealand Government ( mi, Te Kāwanatanga o Aotearoa) is the central government through which political authority is exercised in New Zealand. As in most other parliamentary democracies, the term "Government" refers chiefly to the executive branch, and more specifically to the collective ministry directing the executive. Based on the principle of responsible government, it operates within the framework that "the Queen reigns, but the government rules, so long as it has the support of the House of Representatives".Sir Kenneth Keith, qu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Year
A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally not the reporting period to align with the calendar year (1 January to 31 December). Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxes, such as income tax. Many annual government fees—such as council tax and license fees, are also levied on a fiscal year basis, but others are charged on an anniversary basis. Some companies, such as Cisco Systems, end their fiscal year on the same day of the week each year: the day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Treasury
The New Zealand Treasury ( mi, Te Tai Ōhanga) is the central public service department of New Zealand charged with advising the Government on economic policy, assisting with improving the performance of New Zealand's economy, and managing financial resources. The Minister responsible for the Treasury is the Minister of Finance of New Zealand; however, from 1996 to 2002, there existed a more specific position of Treasurer of New Zealand. The role was created for Winston Peters by the Fourth National Government under Jim Bolger after the 1996 election, and abolished by Helen Clark’s government in 2002. Treasury has four main functions: * Provide advice to improve economic and fiscal conditions for high levels of economic growth and improved living standards. * Monitor and manage the financial affairs of the Crown. * Assess and test other Government agencies’ advice and proposals that have economic and financial implications. * Provide leadership, with other central agencie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister Of Finance (New Zealand)
The minister of Finance, originally known as colonial treasurer, is a minister and the head of the New Zealand Treasury, responsible for producing an annual New Zealand budget outlining the government's proposed expenditure. The position is often considered to be the most important cabinet post after that of the prime minister. The current Minister of Finance is Grant Robertson. There are also three associate minister roles; they are currently held by David Parker, Megan Woods, and Kiri Allan. Responsibilities and powers One of the Minister of Finance's key roles involves the framing of the annual year budget. According to Parliament's Standing Orders, the Minister of Finance may veto any parliamentary bill which would have a significant impact on the government's budget plans. The Minister of Finance supervises the Treasury, which is the government's primary advisor on matters of economic and financial policy. As such, the Minister of Finance has broad control of the go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand House Of Representatives
The House of Representatives is the sole chamber of the New Zealand Parliament. The House passes Law of New Zealand, laws, provides Ministers of the New Zealand Government, ministers to form Cabinet of New Zealand, Cabinet, and supervises the work of government. It is also responsible for adopting the state's New Zealand Budget, budgets and approving the state's accounts. The House of Representatives is a Representative democracy, democratic body consisting of representatives known as members of parliament (MPs). There are normally 120 MPs, though this number can be higher if there is an Overhang seat, overhang. Elections in New Zealand, Elections take place usually every three years using a mixed-member proportional representation system which combines First-past-the-post voting, first-past-the-post elected legislative seat, seats with closed party lists. 72 MPs are elected directly in single-member New Zealand electorates, electoral districts and further seats are filled by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Representatives Of New Zealand
The House of Representatives is the sole chamber of the New Zealand Parliament. The House passes laws, provides ministers to form Cabinet, and supervises the work of government. It is also responsible for adopting the state's budgets and approving the state's accounts. The House of Representatives is a democratic body consisting of representatives known as members of parliament (MPs). There are normally 120 MPs, though this number can be higher if there is an overhang. Elections take place usually every three years using a mixed-member proportional representation system which combines first-past-the-post elected seats with closed party lists. 72 MPs are elected directly in single-member electoral districts and further seats are filled by list MPs based on each party's share of the party vote. A government may be formed from the party or coalition that has the support of a majority of MPs. If no majority is possible, a minority government can be formed with a confidence and s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Parliament
The New Zealand Parliament ( mi, Pāremata Aotearoa) is the unicameral legislature of New Zealand, consisting of the King of New Zealand ( King-in-Parliament) and the New Zealand House of Representatives. The King is usually represented by his governor-general. Before 1951, there was an upper chamber, the New Zealand Legislative Council. The New Zealand Parliament was established in 1854 and is one of the oldest continuously functioning legislatures in the world. It has met in Wellington, the capital of New Zealand, since 1865. The House of Representatives normally consists of 120 members of Parliament (MPs), though sometimes more due to overhang seats. There are 72 MPs elected directly in electorates while the remainder of seats are assigned to list MPs based on each party's share of the total party vote. Māori were represented in Parliament from 1867, and in 1893 women gained the vote. Although elections can be called early, each three years Parliament is dissolved and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Budget Day
Budget Day is the day that a government presents its budget to a legislature for approval, in a ceremonial fashion. It only exists in some countries of the world. India The Union Budget of India, referred to as the Annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the very first day of February by the Finance Minister of India in Parliament. The budget, which is presented by means of the Finance Bill and the Appropriation bill has to be passed by the House before it can come into effect on 1 April, the start of India's financial year. Pre-liberalisation The first Union budget of independent India was presented by R. K. Shanmukham Chetty on 26 November 1947. The Union budgets for the fiscal years 1959–61 to 1963–64, inclusive of the interim budget for 1962–63, were presented by Morarji Desai. On 29 February in 1964 and 1968, he became the only finance minister to present the Union ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
