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Budget 2011 Home Page Estimates of Appropriations 2011/12

Vote Finance

MINISTER(S) RESPONSIBLE FOR APPROPRIATIONS: Minister of Finance (M31), Minister for State Owned Enterprises (M65), Minister for Infrastructure (M80), Minister of Science and Innovation (M84)

ADMINISTERING DEPARTMENT: The Treasury

MINISTER RESPONSIBLE FOR THE TREASURY: Minister of Finance

Overview of the Vote

The Minister of Finance is responsible for appropriations in Vote Finance for the 2011/12 financial year which covers the following:

  • Over $9 million for the operation of the New Zealand Export Credit Office, managing and administering Crown liabilities, Crown Guarantee Schemes, Crown Investments, Crown lending, Crown Bank accounts and providing advice to Government on these services.
  • Over $44 million for activities supporting the budget process, fiscal management and reporting and for policy advice and ministerial servicing on matters related to fiscal, macroeconomic, regulation, state sector performance, budget strategy, management of Crown liabilities, claims against the Crown and Crown properties.
  • Nearly $6 million for scoping activities related to initial policy and scoping work to extend the Mixed Ownership Model.
  • Over $3,600 million for the payment of interest and other costs relating to the Crown's debt.
  • Over $720 million for superannuation costs, primarily Government Superannuation Fund.
  • $220 million for capital payments to International Financial Institutions.
  • Over $17 million for administering New Zealand House, London costs.
  • Nearly $2 million for providing and administering grants and loans to Taitokerau Forests Limited.
  • Over $2 million for transfer of equity in Disputes Resolution Services Limited from ACC to the Crown.
  • Over $2 million for Treasury capital expenditure.
  • Over $1 million for unclaimed money, managing Crown's residual liabilities and provisions for meeting liabilities associated with Geothermal Wells.
  • Nearly $5 million for inquiries and research into productivity related matters.

The Minister of Finance is also responsible for Crown revenue and receipts in the Vote for the 2011/12 financial year, which covers over $3,500 million in non-tax revenue for return on investments including capital charge, dividends from state-owned enterprises and interest on securities and deposits.

The Minister for Infrastructure is responsible for one appropriation in Vote Finance for the 2011/12 financial year which covers over $4 million for policy advice and coordination of the Government's infrastructure activities.

The Minister for State Owned Enterprises is responsible for one appropriation in Vote Finance for the 2011/12 financial year which covers nearly $4 million for Crown company monitoring, governance and ownership advice.

The Minister of Science and Innovation is responsible for one appropriation in Vote Finance for the 2011/12 financial year which covers over $1 million for Crown Research Institutes governance and ownership advice.

Details of these appropriations are set out in Parts 2-6 for Vote Finance in the Information Supporting the Estimates of Appropriations.

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