David Farrar: No more fiscal cliffs

Nicola Willis announced:

The Government is amending the Public Finance Act to prevent future governments concealing the extent of fiscal risks in government accounts, Finance Minister Nicola Willis says.

The change is included in legislation introduced to Parliament on Saturday evening to enhance the transparency and accountability of the public finance system.

Ele Ludemann: More transparency

Finance Minister Nicola WIllis has announced an amendment to the Public Finance Act to prevent future governments concealing the extent of fiscal risks in their accounts.

The change is included in legislation introduced to Parliament on Saturday evening to enhance the transparency and accountability of the public finance system.

Dr Eric Crampton: When rules are only worth the paper they’re written on

There’s a fragility to rules-based orders that has been around for as long as those orders have.

So long as people generally agree that it is good to be bound by the rules, and that trying to change the rules is better than ignoring or breaking them, a rules-based order can persist. People can make important personal and business choices knowing important aspects of the world around them are durable.

David Farrar: Labour’s fiscal trickery

Newshub reports:

When the Government publishes its budget it funds things in a four-year cycle. However, in some cases, it elects to time-limit funding.

Examples include the food in schools programme. Originally a pilot, it was given short-term funding rather than permanent.

Willis said there is a lot more of that than met the public eye.