New Zealand Legislation: Acts

26O Economic and fiscal update

• (1) The Minister must, in accordance with subsection (2), present to the House of Representatives an economic and fiscal update prepared by the Treasury for each financial year.

  (2) The Minister must present the economic and fiscal update immediately after he or she has delivered the Budget for the financial year to which the update relates.

  (3) The update must—

  • (a) contain economic and fiscal forecasts that relate to—

    • (i) the financial year to which the update relates; and

    • (ii) each of the next 2 financial years; and

  • (b) contain a statement of tax policy changes in accordance with section 26R; and

  • (c) be accompanied by a statement of responsibility.

  (4) The update must state—

  • (a) the day on which the contents of the update were finalised; or

  • (b) the days on which the contents of different specified aspects of the update were finalised.

  Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113). See sections 32 to 36 of that Act as to the transitional provisions.