Ruth RichardsonRuth Richardson (born 13 December 1950) served as New Zealand's Minister of Finance from 1990 to 1993, is credited for being the first Finance Minister to have published a modern public sector balance sheet. Following the work of the preceding Labour Government that initiated the financial reforms and passed the necessary legislation, she supported and carried on the reforms, and extended them in a significant way with the fiscal responsibility Act 1994. And more than the Labour ministers who initiated the reforms, she advocated for the merits of modern accounting and financial systems subsequently introduced modern accounting to the national government. These Public Financial Management reforms were part of her wider economic reforms that helped to take New Zealand out of its economic and financial crisis, including the Mother of all Budgets as the first budget was called. Many have noted the wide-ranging affects on New Zealand's social fabric including child poverty along with wealth inequality which were both exacerbated.
This first budget formed the catalyst of her economic reforms known in the media as 'Ruthanasia', as they were widely unpopular at the time with huge, controversial changes following the works of the previous labour government. The successful reforms have been thoroughly researched and documented in academia and held up as a model reform program. Provided by Wikipedia
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