2008 New Zealand budget

New Zealand budget 2008 New Zealand 2007 New Zealand budget 2007 2009 New Zealand budget 2009 File:Coat_of_arms_of_New_Zealand.svg 200px Michael Cullen Parliament of New Zealand Labour $61.9 billionhttp://www.treasury.govt.nz/budget/2008/taxpayers/b08-taxpayers.pdf Minister's Executive Summary 22 May 2008 20 March 2015 New Zealand Treasury https://web.archive.org/web/20160304053217/http://www.treasury.govt.nz/budget/2008/taxpayers/b08-taxpayers.pdf 4 March 2016 dead $61.9b billion $3.1 billion $1.8 billion (Net)http://www.treasury.govt.nz/budget/forecasts/befu2008/15.htm#_tocDebt Debt Gross Sovereign Issued Debt (GSID) Excluding Settlement Cash 22 May 2008 New Zealand Treasury 20 March 2015 https://web.archive.org/web/20150402165437/http://www.treasury.govt.nz/budget/forecasts/befu2008/15.htm#_tocDebt 2 April 2015 dead 1% (Net debt of GDP) http://www.treasury.govt.nz/budget/2008 ǂNumbers in italics are projections. The New Zealand budget for fiscal year 2008-2009 was presented to the New Zealand House of Representatives by Finance Minister Dr Michael Cullen on 22 May 2008. This was the ninth budget Michael Cullen has presented as Minister of Finance, and his last before the Fifth Labour Government was defeated at the 2008 general election. Outline The New Zealand economy went into recession in the last quarter of 2007,http://www.dol.govt.nz/publications/discussion-papers/current-recession/ How bad is the Current Recession? Labour Market Downturns since the 1960s Ministry of Business, Innovation and Employment 24 March 2015 dead https://web.archive.org/web/20141215000257/http://www.dol.govt.nz/publications/discussion-papers/current-recession/ 15 December 2014 putting significant strain on the Government's accounts. Tax changes The 2008 budget reduced income tax on the first $9,500 earned from 15% to 12.5%,http://www.treasury.govt.nz/budget/2008/taxpayers/01.htm#personal Budget 2008 - Tax Changes 22 May 2008 24 March 2015 https://web.archive.org/web/20150325233409/http://www.treasury.govt.nz/budget/2008/taxpayers/01.htm#personal 25 March 2015 dead and the company tax rate from 30% to 29%. References External links New Zealand Herald, 2008 Budget coverage Budget, 2008 Category:New Zealand budgets New Zealand budget Category:May 2008 in New Zealand