NZ Government Revenue And Expenses
Government Revenue:
Total Revenue: $153.0 billion NZD
Tax Revenue:
Core Crown Tax Revenue: $112.4 billion NZD
Income Tax: Approximately $45 billion NZD (personal and corporate)
Goods and Services Tax (GST): About $26 billion NZD
Other Indirect Taxes (like excise duties, road user charges): Around $5 billion NZD
Customs and Excise Duties: $3.9 billion NZD
Gaming Duties: $0.2 billion NZD
Energy Resources Levies: $0.5 billion NZD
Non-Tax Revenue:
Investment Income: $5 billion NZD (including NZ Super Fund earnings)
Sales of Goods and Services: $3 billion NZD
Other Revenues: Including fines, levies, and fees, around $2.5 billion NZD
Government Expenditure by Department (In Millions/Billions NZD):
Summary of Financial Position:
Total Expenses: $161.8 billion NZD
Operating Balance (Revenue less Expenses plus Net Gains/Losses): $5.3 billion NZD surplus
OBEGAL (Operating Balance before Gains and Losses): $9.4 billion NZD deficit, highlighting the impact of volatile gains and losses on the overall balance.
Example:
NZ GDP [ $253.47 billion]
Govt Exp [ $161.8 billion] = 63.83% of GDP
Taxes Collected [ $112.4 billion] = 44.35% of GDP
This example illustrates that while government expenditure is 63.83% of GDP, the taxes collected represent 44.35% of GDP, indicating the government's reliance on tax revenue and the gap filled by other revenue sources or borrowings to meet its spending needs.
Here's a simplified numerical representation of trends in tax collection revenue and government expenditure for New Zealand over the last 20 years, based on the given information and general economic trends:
Tax Collection Revenue (in billions NZD, adjusted for inflation):
2004: ~$45 billion
2008 (pre-GFC): ~$60 billion
2012 (post-GFC): ~$55 billion
2016: ~$70 billion
2020 (pre-COVID): ~$90 billion
2023: $112.4 billion
2024 (estimated): ~$115 billion
Government Expenditure (in billions NZD, adjusted for inflation):
2004: ~$50 billion
2008 (pre-GFC): ~$65 billion
2012 (post-GFC): ~$75 billion
2016: ~$90 billion
2020 (pre-COVID): ~$100 billion
2023: $161.8 billion
2024 (estimated): ~$165 billion
Observations:
Pre-Global Financial Crisis (GFC): Both revenue and expenditure were growing, with expenditure slightly outpacing revenue.
During and Post-GFC: There's a noticeable impact on tax revenue with a slight decrease or stagnation, while government expenditure increased significantly due to stimulus measures.
Recovery Period: Tax revenues recover and grow, though government spending remains high due to ongoing commitments and new initiatives.
COVID-19 Era: A marked increase in government expenditure due to emergency measures, with a slowdown or dip in tax revenue in 2020, followed by recovery.
Recent Years: Both figures continue to rise, but expenditure has grown more rapidly, reflecting increased government programs or responses to economic challenges.
Note:
These numbers are illustrative, simplified for clarity, and adjusted for inflation to give a sense of real terms growth. Actual figures would vary due to specific economic conditions, policy changes, and inflation rates each year.
The estimates for 2024 are speculative, assuming moderate growth from 2023 based on recent trends and not accounting for any unforeseen economic shifts or policy changes.
FY2024
Also here's an estimation of expenses or allocation of funds for various New Zealand government departments based on the "Estimates" for the 2024 financial year. Keep in mind that these figures represent budgeted allocations rather than actual expenses unless otherwise stated. The following numbers are based on the sector volumes of the Estimates, which detail the planned expenditures:
Health Sector:
Health New Zealand - Te Whatu Ora:
Allocation: Approximately $27.3 billion for health services, including hospital services, primary and community care, and public health services.
Ministry of Health:
Allocation: Around $3.2 billion for policy, regulation, and support functions.
Education Sector:
Ministry of Education:
Allocation: Approximately $14.2 billion for primary, secondary, and tertiary education services.
Tertiary Education Commission:
Allocation: About $3.7 billion for tertiary education funding.
Social Development Sector:
Ministry of Social Development:
Allocation: Around $33.7 billion for welfare benefits, employment support, and family services.
Justice Sector:
New Zealand Police:
Allocation: Approximately $2.6 billion for policing services.
Ministry of Justice:
Allocation: About $0.9 billion for court services, legal aid, and justice policy.
Department of Corrections:
Allocation: Approximately $1.7 billion for prison management and rehabilitation programs.
Defence and Security:
New Zealand Defence Force:
Allocation: Around $4.2 billion for military operations and personnel.
Ministry of Defence:
Allocation: About $0.2 billion for defence policy and procurement.
Government Communications Security Bureau (GCSB):
Allocation: Around $0.1 billion for intelligence and cybersecurity.
New Zealand Security Intelligence Service (NZSIS):
Allocation: Approximately $0.1 billion for national security intelligence.
Environment and Conservation:
Ministry for the Environment:
Allocation: Around $0.3 billion for environmental policy and climate action.
Department of Conservation:
Allocation: About $0.5 billion for conservation efforts and national parks.
Housing and Urban Development:
Ministry of Housing and Urban Development:
Allocation: Approximately $3.5 billion for housing policy and support.
Transport:
Waka Kotahi NZ Transport Agency:
Allocation: Around $4.0 billion for roading, public transport, and transport safety.
Primary Industries:
Ministry for Primary Industries:
Allocation: Approximately $1.0 billion for agriculture, biosecurity, and fisheries.
Finance and Government Administration:
The Treasury:
Allocation: Around $0.3 billion for economic policy and financial management.
Department of Internal Affairs:
Allocation: Approximately $1.2 billion for local government support, identity services, and emergency management.
Public Service Commission:
Allocation: About $0.1 billion for public sector performance and leadership.
Other Significant Departments:
Oranga Tamariki - Ministry for Children:
Allocation: Around $1.7 billion for child protection and youth justice.
Ministry of Business, Innovation and Employment:
Allocation: Approximately $2.4 billion for business services, immigration, and employment policy.
These allocations are based on the Budget 2024 "Estimates" documents which outline intended spending rather than actual expenses. Actual expenditures might differ slightly due to various factors like unspent funds, reallocations, or emergency spending. For precise actual expenses, one would need to review the end-of-year financial statements of each department, which are not detailed in the information provided.