Finance and Expenditure Committee

The Finance and Expenditure Committee (known as the Public Accounts Committee until 1962, and as the Public Expenditure Committee from 1962) is a subject select committee of the New Zealand House of Representatives, the unicameral chamber of the New Zealand Parliament. It is responsible for scrutinising matters relating to economic and fiscal policy, taxation, revenue, banking and finance, superannuation, insurance, Government expenditure and financial performance, and public audit. The committee is currently established by Standing Order 189.

History

Following a reform of the former Public Accounts Committee in 1962, the Public Expenditure Committee was established and became the most influential parliamentary committee in New Zealand. It established "a strong reputation for itself, principally because it enjoyed powers of investigation not granted to other committees and because it attracted able and ambitious members. It was the only committee able to set up its own inquiries (without reference from the House), had subcommittees chaired by opposition members, and enjoyed the support of staff from the Legislative department (now the Office of the Clerk) as well as the Audit Office."

Jurisdiction

The committee looks at business related to:

• Economic and fiscal policy
• Taxation and revenue
• Banking and finance
• Superannuation and insurance
• Government expenditure and financial performance
• Public audit

Ministers answerable

The wide scope of the committee's oversight means a number of government ministers are answerable to it:

Membership (54th Parliament)

The committee currently has 11 members. The Government holds a majority of 6 seats to 5.

Previous members (54th Parliament)

Key functions

The Finance and Expenditure Committee plays a central role in New Zealand's financial scrutiny process. It examines:

• Budget estimates – scrutinising the Government's proposed spending for each financial year
• Fiscal Strategy Reports – reviewing the Government's medium-term fiscal intentions
• Monetary Policy Statements – receiving reports from the Reserve Bank of New Zealand
• Financial Stability Reports – reviewing the stability of the financial system
• Taxation bills – examining proposed changes to tax law
• International treaty examinations – reviewing double taxation agreements with other countries
• Reports of the Controller and Auditor-General – scrutinising public sector audit findings
• Annual reviews – reviewing the performance of government departments and Crown entities

See also

• New Zealand House of Representatives committees
• Select committee (New Zealand)
• Public Accounts Committee

References

1. "Standing Orders of the House of Representatives 2020, SO 189". New Zealand Parliament. Retrieved 31 August 2021.
2. Elizabeth McLeay. "Parliamentary Committees in New Zealand: A House Continuously Reforming Itself?" (PDF). parlinfo.aph.gov.au. Retrieved 31 August 2021.
3. "Select Committee Reports – New Zealand Parliament". selectcommittees.parliament.nz. Retrieved 2023-12-12.
4. "Finance and Expenditure – New Zealand Parliament". www.parliament.nz. Retrieved 2025-02-09.
5. "Determinations of the Business Committee for Wednesday, 20 December 2023". Retrieved 25 April 2025.
6. "Determinations of the Business Committee for Wednesday, 29 January 2025". Retrieved 25 April 2025.
7. "Determinations of the Business Committee for Wednesday, 22 May 2024". Retrieved 25 April 2025.
8. "Determinations of the Business Committee for Wednesday, 27 March 2024". Retrieved 25 April 2025.