Ruth Richardson is best known as New Zealand’s Minister of Finance from 1990 to 1993.  She spent her early career advising NZ Government on law reform and later worked for NZ Federated Farmers helping them become a leading advocate of structural reform and the deregulation of the NZ economy.

As Minister of Finance Ruth inherited an economy in a deep recession, a budget forecast to blow out massively and a credit downgrade from an international credit rating agency. Within six weeks of taking office, she presented to Parliament "The Economic and Social Policy Initiative", outlining specific initiatives and policies to reverse the previous downward trend in the economy.

Her first budget in 1991 involved comprehensive economic and social reforms, including a commitment to control, reduce and eliminate the budget deficit in three years. Early signs of economic success appeared in October 1991 when economic growth commenced and interest rates fell. The tariff regime was also reformed.

Ruth’s second budget was designed to consolidate the economic recovery, and more specific initiatives produced a declining deficit and positive growth for four quarters.  Her third budget in July 1993, involved a comprehensive fiscal strategy designed to achieve a budget surplus and debt reduction and it recorded eight quarters of positive economic growth.

Ruth was responsible for the privatisation of many previously government owned organisations and New Zealand certainly reaped the rewards of her well designed programme of economic reforms. She pioneered the concept of a fiscal responsibility law, introducing NZ’s Fiscal Responsibility Act that has become a world-wide benchmark.

Combining political, economic, strategic and presentational expertise, Ruth Richardson offers an insight into the positive development of economies at all levels.  She has been appointed a Director to a number of national and international companies. She is based in Canterbury where she lives with her husband and children.

Ruth is an economic consultant and specialises in:

• Delivery of presentations on governance and reform experiences
  • the “how” to do it
• The preparation and tendering of detailed strategic and policy reform advice
  • the “what” to do
• Managing the politics of the reform process
• Designing and implementing a programme of economic & social policy with a focus on:
  • the achievement of price stability
  • the practice of fiscal responsibility
  • the deregulation of the labour market
  • creation of open & competitive economy
  • installation of a broad base – low rate taxation regime
  • redesign of social policy emphasising greater responsibility & choice
  • for the individual and less financial burden for the State.

On leaving politics Ruth has met the extensive international demand to learn from the New Zealand reform model. Her consultancy takes place at three levels.

International agencies

Speaking and advisory assignment for the World Bank & UN and conference commitments on behalf of the Commonwealth Secretariat

Sovereign Governments

Working directly with Heads of Government, Ministers of Finance & senior officials

Private Agencies

Assignments with private firms and organisations with a public policy involvement or focus

Countries she has worked with in some capacity:

Americas – Argentina, Brazil, Cayman Islands, Chile, Costa Rica, El Salvador, Mexico, Peru, Uruguay & USA

Asia – Malaysia, Pakistan, Singapore, Philippines & Vietnam

Europe – Austria, Denmark, Finland, France, Germany, Iceland, Ireland, Macedonia, the Netherlands, Switzerland, & England

Pacific – Australia, Fiji Papua New Guinea, NZ & Vanuatu

Africa – Ivory Coast, Mauritius, South Africa

Middle East – Jordan

Directorships have included:

• Canterbury International
• I-Cap Mezzanine Partners Ltd & I-Cap Equity Partners
• ICPbio Ltd
• Jade Software Corporation
• Kula Fund – Commonwealth Development Corporation
• NZ Merino Company Ltd
• Oyster Bay Marlborough Vineyards Ltd
• Reserve Bank of NZ
• Wrightson Limited