As the scale and significance of the global pandemic first emerged, we identified that the distribution of bank notes and coins in New Zealand could be affected by an outbreak of COVID-19 or transport restrictions either in our Wellington operations or anywhere in the cash system where people handle and transport money.
As you are well aware, budget outcomes in the past have deviated from projections - in some cases, significantly - and they will continue to do so. Accordingly, a well-designed set of mechanisms that facilitate midcourse corrections would ease the task of bringing the budget back into line when it goes off track.