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The Treasury Statement of Intent 2012-17

Nature and Scope of Functions

Our Functions

We perform five core functions:

  • Economic: we are the lead expert for Ministers on economic and fiscal performance, concentrating on policy areas that have a significant impact on the economy. This includes leading improvement of the quality of regulation, removing barriers to growth and increased productivity.
  • Financial: we manage the financial affairs of the Crown, concentrating on issues that have significant fiscal implications on public sector financial management and standards.
  • Central Agency: with the Department of Prime Minister and Cabinet (DPMC) and the State Services Commission (SSC), we assist the Government to develop its overall strategy for the State services and manage significant issues.
  • Performance monitoring: we monitor the performance of State sector agencies, including State-Owned Enterprises (SOEs), and work with them to improve performance.
  • Commercial policy and operations: we provide commercial policy advice (eg, financial markets, assets) and provide financial operational services through the New Zealand Debt Management Office (NZDMO) and the New Zealand Export Credit Office (NZECO). This area will be subject to some change as we, for example, exit delivery of the Deposit Guarantee Scheme.

These outputs are funded through 11 specific departmental output appropriations. These are detailed in the Estimates of Appropriations 2012/13.

Legislation we Administer

The Treasury currently administers approximately 36 statutes and related secondary legislation. The most significant of these are the Public Finance Act 1989 and the State-Owned Enterprises Act 1986. The Public Finance Act 1989 provides the platform for the advisory roles expected of us by the Government.

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