The Treasury

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What the Treasury Does

Nature and Scope of Functions

Our Purpose

The Treasury is government's leading economic, financial and regulatory advisor. Our core job is to help the Government improve New Zealand's overall economic performance, and increase the living standards of New Zealanders, through the provision of high-quality advice and services. Our advice contributes to improved performance by making challenging issues more tractable to effective government decision-making. The Treasury supports effective delivery of services by the State sector through its policy advice, and delivers some services directly where it is best placed to do so.

The Scope of Our Work

The Treasury provides advice and services to Ministers, primarily the Minister of Finance, through Vote Finance.

We perform three roles through these portfolios:

  • providing policy advice direct to Ministers to facilitate government decisions on changes and initiatives that support better economic performance and higher living standards
  • raising the quality of advice and service delivery in the State sector, by leading improvements in State sector management and performance through a shared work programme involving the three Central Agencies - the Treasury, DPMC and SSC - and providing second-opinion advice on the economic and financial implications of other government agencies' proposals, and
  • providing services directly, such as monitoring and managing the financial affairs of the Crown, including managing the Crown's debt through NZDMO, and supporting New Zealand's economic performance through the provision of services through NZECO, Crown Wholesale Guarantee Facility and the Retail Deposit Guarantee Scheme.

These outputs are funded through 20 specific departmental output appropriations.

Outcome Areas

This report sets out the progress we made in our three outcome areas: A Stable and Sustainable Macroeconomic Environment; Improved Economic Performance; and A High-performing State Sector that supports New Zealand's International Competitiveness. These outcomes reflect the areas where we have the greatest influence towards achieving the Government's goals.

Success involves engaging effectively, both internally and with our key external customers, providing good-quality policy advice and operations and being flexible in our approach so that we can respond to changes in our operating environment.

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