New Zealand/Minister of Finance
| New Zealand/Minister of Finance |
(Minister of Finance)
|A central position in the New Zealand government|
The minister of Finance, originally known as colonial treasurer, is the head of the New Zealand Treasury, responsible for producing an annual New Zealand budget outlining the government's proposed expenditure. The position is often considered to be the most important cabinet post after that of the prime minister.
Responsibilities and powers
One of the Minister of Finance's key roles involves the framing of the annual year budget. According to Parliament's Standing Orders, the Minister of Finance may veto any parliamentary bill which would have a significant impact on the government's budget plans. The Minister of Finance supervises the Treasury, which is the government's primary advisor on matters of economic and financial policy. As such, the Minister of Finance has broad control of the government's spending, making the position quite powerful.
Some analysts, such as Jonathan Boston, claim that the Minister of Finance can sometimes hold more influence than the Prime Minister, if the conditions are right. Gordon Coates, Finance Minister in the early 1930s, was sometimes such a figure. Some political scientists, such as Boston, believe that in the government of David Lange, Minister of Finance Roger Douglas held more power than was proper, and that the Treasury was using its control of government finances to take a supervisory role across the whole administration. It was probably for this reason that Lange's successor, Geoffrey Palmer, established the Department of the Prime Minister and Cabinet, which could offer the Prime Minister advice independent of that given by individual ministers.
Office Holders on Wikispooks
|Bill English||19 November 2008||12 December 2016|
|Bill English||31 January 1999||22 June 1999|