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Budget 2012 Home Page Estimates of Appropriations 2012/12

Vote Finance

MINISTER(S) RESPONSIBLE FOR APPROPRIATIONS: Minister of Finance (M31), Minister for State Owned Enterprises (M65), 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 2012/13 financial year which cover the following:

  • Over $20 million for the provision of services which support the performance of the State sector including fiscal reporting, forecasting and monitoring, provision of Export Credit, managing, administering and monitoring Crown Guarantee Schemes, Crown Lending, Crown Investments, and Crown Bank accounts.
  • Over $35 million for the provision of advice (including second opinion advice and contributions to policy advice led by other agencies) to support decision-making by Ministers on government policy matters relating to Finance.
  • Nearly $103 million for the implementation and direct costs associated with the Mixed Ownership Model in a Multi-Year appropriation covering the period 2011/12 to 2014/15.
  • Over $8 million for the provision of shared services to other entities and agencies.
  • Nearly $3,700 million for the payment of interest and other costs relating to the Crown's debt.
  • Nearly $720 million for superannuation costs, primarily The Government Superannuation Fund.
  • $220 million for capital payments to International Financial Institutions.
  • Over $17 million for costs for administering New Zealand House, London.
  • Nearly $2 million for providing and administering grants and loans to Taitokerau Forests Limited.
  • Nearly $2 million for Treasury departmental capital expenditure.
  • Over $3 million for unclaimed money, additional farm costs payable to Landcorp, managing the Crown's residual liabilities, and provisions for meeting liabilities associated with Geothermal Wells, and $30 million for the unwind of the AMI discount rate expense.
  • Over $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 2012/13 financial year which accounts for over $3,200 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 State Owned Enterprises is responsible for one appropriation in Vote Finance for the 2012/13 financial year which covers over $4.600 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 2012/13 financial year which covers nearly $800,000 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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