Nature and Scope of Functions
Our Functions
We perform five core functions:
- Economic: we are the lead expert for Ministers on economic 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 and provide advice on fiscal strategy, policy and performance.
- Corporate Centre: with DPMC and SSC, we collectively lead the State sector with the aim of delivering outstanding results for New Zealanders. We assist the Government to develop its overall strategy for the State services, provide advice on how to improve the system and manage significant issues.
- Performance monitoring: we monitor the performance of State sector agencies, including State-Owned Enterprises (SOEs) and the Crown’s remaining shares in the Mixed Ownership Model (MOM) companies, 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). We manage the partial sale of certain SOEs.
These outputs are funded through 11 specific departmental output appropriations. These are detailed in the Estimates of Appropriations 2013/14.
Legislation we Administer
The Treasury currently administers 41 statutes and 100 secondary regulations. 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.
