Treasury’s draft Long-term Insights Briefing

Local government welcomes the Treasury's draft Long-term Insights Briefing on sustainable and resilient fiscal policy through economic shocks and cycles. We support the overall framing and direction of this briefing. We believe that clear-eyed forecasting and planning is crucial to address the intensifying costs of economic and environmental shocks and cycles facing New Zealand.

Local government is both impacted by and integral to how the country absorbs and recovers from shocks. Accordingly, we believe Treasury’s analysis across all its work would be significantly strengthened by incorporating greater consideration of the fiscal role of local government. This includes local government’s revenue, expenditure, debt, liabilities, investment, and its key role in responding to both short-term economic shocks and long-term challenges.

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