In a speech to the Auckland Chamber of Commerce on Monday, Luxon announced three new initiatives to encourage fiscal discipline. A National government would require the Treasury to report on the performance of major spending initiatives, alongside the annual budget documents. Secondly, it would link public sector chief executives—and other senior executives—pay packages to the performance of their agencies and programmes they oversee. Performance pay in the public sector can be much more complicated than in the private sector, where the primary goal is to turn a profit. Inland Revenue would write the receipt—showing total revenue and spending—while Treasury would produce an annual “Report Card for Taxpayers” that reported revenue, spending, and debt on a per household basis.

Source: New Zealand Herald May 15, 2023 08:45 UTC