Body:
Treasury has responsibility for advising the Minister of Finance on all proposals to Cabinet with:
- economic implications;
- financial or fiscal (expenditure or revenue) implications;
- implications for the Public Finance Act 1989;
- regulatory implications, that is, proposals for primary legislation or regulations as defined in the Regulations (Disallowance) Act 1989.
When it becomes apparent during the policy development stage that a policy proposal has any of these implications:
- the Treasury must be consulted on all Cabinet papers that have financial, fiscal, economic or regulatory implications, or that contain recommendations on expenditure or revenue;
- the Treasury must be allowed reasonable time to comment (a minimum of two weeks, unless there are compelling and unavoidable reasons for it to be less);
- the implications must be detailed in the Cabinet paper and in an accompanying regulatory impact statement (if applicable).
Related pages
Drafting financial recommendations to address financial implications in Cabinet papers