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Vote Finance

APPROPRIATION MINISTER(S): Minister of Finance (M31), Minister for State Owned Enterprises (M65), Minister of Science and Innovation (M84), Minister supporting Greater Christchurch Regeneration (M85), Minister Responsible for HNZC (M90)

APPROPRIATION ADMINISTRATOR: The Treasury

RESPONSIBLE MINISTER FOR THE TREASURY: Minister of Finance

Overview of the Vote

The Minister of Finance is responsible for appropriations in Vote Finance for the 2016/17 financial year which cover the following:

  • a total of nearly $31 million for the provision of financial operations services and operational advice which support the performance of the State sector
  • a total of nearly $10 million for the administration of Crown borrowing, securities, derivative transactions, investments and guarantees
  • a total of over $31 million for the provision of advice (including assessing and providing contributions to policy advice led by other agencies) to support decision making
  • a total of over $14 million for the provision of shared services to other entities and agencies
  • a total of over $4 million for departmental capital expenditure
  • a total of over $3,448 million for the payment of interest and other costs relating to the Crown's debt
  • a total of nearly $591 million for superannuation costs, primarily the Government Superannuation Fund
  • a total of nearly $15 million for capital payments to International Financial Institutions and for the un-wind of interest expense on liabilities
  • a total of over $5 million for inquiries and research into productivity-related matters paid to the Productivity Commission
  • a total of over $7 million for unclaimed money, meeting costs associated with the Landcorp Protected Land Agreement, managing the Crown's residual liabilities, provisions for meeting liabilities associated with Geothermal Wells, Unclaimed Money and for providing and administering grants and loans to Taitokerau Forests Limited
  • a total of nearly $17 million for costs of administering New Zealand House, London
  • a total of nearly $2 million for the review and reform of Local Government Infrastructure Arrangements
  • a total of over $8 million for the unwind of Crown Support Deed interest expense for Southern Response Earthquake Services Limited
  • a total of $200 million for a loan facility for Tamaki Redevelopment Company in a multi-year appropriation covering 31 March 2015 to 30 June 2018, and
  • a total of nearly $279 million for refinancing of Housing New Zealand Corporation and Housing New Zealand Limited Debt and Tamaki Regeneration.

The Minister of Finance is also responsible for Crown revenue and receipts in the Vote for the 2016/17 financial year which account for nearly $3,769 million in non-tax revenue for return on investments, including capital charge, dividends, and interest on securities and deposits.

The Minister supporting Greater Christchurch Regeneration is responsible for annual appropriations in Vote Finance for 2016/17 financial year which cover nearly $227 million for the continuation of Anchor Projects Programme and divestment of Crown-owned land to Otakaro Limited and for the multi-year appropriation for the transfer of Anchor Project Assets to Otakaro Limited covering 1 April 2016 to 30 June 2020 of $500 million.

The Minister Responsible for Housing New Zealand Corporation is responsible for the appropriation in Vote Finance for the 2016/17 financial year which covers over $11 million for the Social Housing Reform Programme.

The Minister for State Owned Enterprise is responsible for the appropriation in Vote Finance for the 2016/17 financial year which covers nearly $5 million for Crown company monitoring, governance, and ownership advice.

The Minister of Science and Innovation is responsible for the appropriation in Vote Finance for the 2016/17 financial year which covers over $200,000 for Crown Research Institutes governance and ownership advice.

Details of these appropriations are set out in Parts 2-4.

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