The head of the Treasury says new policies may be needed to lift New Zealand's savings.
Gabriel Makhlouf made the comments in a speech in Wellington on Tuesday afternoon.
Mr Makhlouf says balancing the Government's books will help lift savings - but by itself might not be enough and other policies should be considered.
He says the Treasury also sees a greater need to rein in Government spending during economic boom times.
Mr Makhlouf says high spending during upswings in the economy could put undue pressure on interest rates and the currency.
He says changes to the Public Finance Act should be considered so governments are required to consider such effects.