Treasury Guest Lecture with Professor Ian Ball, Dag Detter & Lucian Simmons

Join us for our next Fiscal Policy for the Future seminar

Many governments are looking for ways to accommodate mounting fiscal pressures, generally by increasing taxes, reducing spending, or increasing borrowing.

In this online seminar, Ian Ball and Dag Detter will explore the possibilities for the New Zealand Government to generate greater non-tax revenues through improved management of the very significant resources sitting on the Government’s balance sheet.

Lucian Simmons from The New Zealand Treasury, will introduce the Investment Statement as context for Ian and Dag to address the role of accounting and a net worth perspective on public financial management, drawing from their extensive hands-on international experience and the research detailed in their book ‘Public Net Worth: Accounting, Government, Democracy’ (https://publicnetworth.com).

This book advocates for utilising a government’s balance sheet to generate non-tax revenues through more productive use of government assets, particularly commercial assets, and is co-authored with Willem Buiter, John Crompton, and Jacob Soll.

About the presenters

Ian Ball is an Adjunct Professor at the Wellington School of Business and Government at Victoria University of Wellington.

He is a former Director of Financial Management Policy and Central Financial Controller (and head of the Financial Management Branch) at the New Zealand Treasury (1997-2004) where his key responsibilities involved the design and then implementation of the Public Finance Act 1989, which introduced accrual budgeting, appropriations and financial reporting. He also initiated and lead the development of the International Public Sector Accounting Standards (IPSAS) while Chair of the International Federation of Accountant’s Public Sector Committee (1996-2000) and was subsequently Chief Executive of the International Federation of Accountants (2002-2013).

More recently he has been Chair of the Audit Advisory Committee for the Financial Statements of the NZ Government (2014-2021).

Dag Detter is a financial advisor to governments and other sovereign entities worldwide on boosting non-tax revenues from public commercial assets, such as corporations and real estate.

Dag led the comprehensive restructuring of Sweden’s USD 70 billion national portfolio of commercial assets, the first attempt by a European government to systematically address the ownership and management of government enterprises and real estate. This led to a portfolio value increase twice that of the local stock market and helped boost economic growth and fiscal space.

He is the co-author of ‘Public Net Worth – Accounting, Government and Democracy’ and ‘The Public Wealth of Nations’ – The Economist and Financial Times’s best book of the year.

Lucian Simmons is a Senior Analyst in the Balance Sheet & Transactions team at the New Zealand Treasury. Lucian started his career at Westpac Institutional Bank, working with sovereign and financial institutions across Asia and North America. He has since worked in Deal Advisory at PwC and Supervision at the Reserve Bank of New Zealand. He is leading the development of The Treasury’s upcoming Investment Statement, which will be published in late 2025.

About this seminar series

New ideas, innovative concepts, research evidence and expert advice are all crucial to stimulate and inform the Treasury’s economic analysis and advice. Our current theme for guest lectures - Fiscal Policy for the Future - explores the role of stabilising, sustainable and effective fiscal policy. Speakers will provide insights into how fiscal policy can be designed to support government to meet its current and future objectives and obligations while adapting to changing circumstances and delivering value to the New Zealand public.

Fiscal policy has a stabilising role in helping to smooth the business cycle, while sustainability in fiscal policy is foundational for resilience to both shocks and longstanding challenges, such as climate change, technological advancements, and demographic trends. Ensuring effective and value for money expenditure is important so that fiscal policy contributes to the living standards of New Zealanders, both now and in the future.

Please note that the views, opinions, findings, and conclusions expressed in the Treasury Guest Lecture Series are those of the individual presenters. They do not necessarily reflect the views of the New Zealand Treasury or the New Zealand Government.

For updates and our latest research visit https://www.treasury.govt.nz/

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