The Assembly’s public accounts committee has started the process to scrutinise the government’s budget after the first reading of the Appropriation bill passed in the Fono Ekepule two weeks ago.
Minister of Finance, Crossley Tatui in his address at the Niue Assembly says the Budget for the 2025-2026 Financial Year (new fiscal year starting on 1st July 2025) incorporates the lessons of the past and charts a responsible and forward-looking course for the new fiscal year.
On highlighting Investment and Infrastructure Management, the total replacement value of Niue’s assets is approximately $200 million NZD (US$118.56 million).
The per capita cost of maintaining Niue’s assets is three times higher than New Zealand’s. This means an additional of $5 million NZD (US$2.96 million) will be required to support maintenance and development needs for the upcoming fiscal period.
Tatui said the government prioritises investments in social and economic infrastructure to address climate change impacts and foster sustainable development.
He encouraged fellow Niueans to continue to maintain momentum as we work towards building a prosperous, sustainable, and resilient nation that can be shared with future generations.
The Appropriation Bill is now with the Public Accounts Committee (PAC) for review after which it will be returned to the House of Assembly for its second and final reading.