Formats and related files
The Government recently consulted on the proposal to establish an Independent Fiscal Institution as part of New Zealand’s fiscal policy framework, and is now considering public submissions.
About the discussion document
The Government’s discussion document, New Zealand’s Fiscal Policy Framework: Establishing an Independent Fiscal Institution, was released publicly on 12 September 2018.
This discussion document outlines a proposal to establish an Independent Fiscal Institution in New Zealand. The Government is committed to responsible fiscal management. The purpose of an Independent Fiscal Institution is to help strengthen accountability, transparency and debate over New Zealand’s fiscal policy framework, as well as better support the effective development of public policy by political parties by:
- providing independent evaluation of fiscal policy performance
- improving and supporting effective parliamentary scrutiny of public finances and fiscal policy, and
- providing for independent costings of political party policies to better inform public debate and strengthen New Zealand’s democracy.
The proposal to establish an Independent Fiscal Institution is now closed to public submissions. The opportunity to provide submissions closed on 24 October 2018.
The Government sought thoughts on the various roles and functions an Independent Fiscal Institution could play in the New Zealand context, and on what institutional model might be appropriate.
The Government is now considering the submissions as it develops its final proposal.
Please direct your queries to IFIproposal@treasury.govt.nz