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Treasury's key responsibilities

Treasury will have the lead role for:

  • Acting as the responsible Minister's agent in monitoring the Crown's ownership and service delivery interests in HNZC and TRC, including all matters related to their financial, service delivery, and operational performance. This monitoring includes (but is not limited to) ensuring that HNZC's and TRC's strategic directions are aligned with the interests of government and fit within the statutory framework; monitoring against an appropriate accountability and performance reporting framework and managing the performance cycle; providing assurance on the capability of HNZC and TRC, and advice on the quality of the Boards' systems for managing risk.
  • Monitoring, analysing, and advising on the implications of policy and operational decisions for the Crown's overall balance sheet.
  • Relationship management with the HNZC and TRC Boards (although it is recognised that MBIE will also want to develop its relationship with these Boards), and for appointments and board performance evaluation. Both agencies commit to ensuring effective coordination with the Boards and to avoid a perception by HNZC or TRC of multiple reporting arrangements.

Treasury will also:

  • Continue to provide alternative or supportingadvice to the Minister of Finance on housing issues, including matters relevant to the Budget process and funding issues, in its role as the Government's lead economic and fiscal advisor.

In undertaking the above key responsibilities, both agencies will take particular care to pool relevant and reliable information from which to provide rich and seamless advice to Ministers.

Annex 1 provides an indicative list of specific responsibilities of MBIE and the Treasury, to aid clarity. However, it is not possible to anticipate all possible circumstances, so the following principles will apply:

  • Generally, responsibility for a function or piece of advice should be determined by whether the key issue is primarily ownership or policy-related.
  • Where responsibility is unclear or the issue is mixed, early engagement will take place between MBIE and the Treasury to determine who should 'hold the pen' or whether joint responsibility should apply.
  • Full and timely consultation with the other party should take place if the other party's interests are affected. Where practical, a minimum of one week should be allowed for consultation. Relevant papers should be provided to each of MBIE and the Treasury.
  • The parties will endeavour to provide advice on a particular matter in one report. However, where the parties' views on analysis or advice differ, they retain the right to either input separate sections within a single report or to produce separate reports, if there is good reason to do so. In either case both Ministers will receive the advice.
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