Latest news with #FinanceandExpenditureCommittee
Scoop
25-06-2025
- Business
- Scoop
Have Your Say On Proposed Changes To The Overseas Investment Act
The Chairperson of the Finance and Expenditure Committee is calling for public submissions on the Overseas Investment (National Interest Test and Other Matters) Amendment Bill. The closing date for submissions is 11.59pm on Wednesday, 23 July 2025. The bill proposes a range of amendments to the Overseas Investment Act, including to: change the purpose statement of the Act consolidate the national interest, benefit to New Zealand, and investor tests into a single test require the regulator to grant consent within 15 working days unless there are reasonable grounds to consider that a risk to national interest exists create a new regulation-making power enabling regulations to specify new classes of screened transactions that must undergo a national interest assessment. Tell the Finance and Expenditure Committee what you think: Make a submission on the bill by 11.59pm on Wednesday, 23 July 2025.
Newsroom
18-06-2025
- Politics
- Newsroom
Incorrect claims overstate Regulatory Standards Bill's effects
A surge in public opposition to the Government's proposed Regulatory Standards Bill has been undermined through the spreading of misinformation, a public law expert says. More than 75,000 people have submitted to the Finance and Expenditure Committee on the legislation. Though it's unclear how many of these back or oppose the bill, a previous consultation on the proposal over summer received 23,000 submissions in total, only 73 of which were in favour.
Scoop
18-06-2025
- Business
- Scoop
Nicola Willis Misleading On Job Numbers
Finance Minister Nicola Willis is misleading Kiwis by claiming she's created jobs when she hasn't. 'In today's Finance and Expenditure Committee hearing, Nicola Willis said that their policies will create 240,000 jobs, but those jobs are because of population growth, not because of her Budget,' Labour finance and economy spokesperson Barbara Edmonds said. 'In fact, there are 30,000 fewer jobs now than when they took office, and Treasury says 20,000 more people will be unemployed at the end of the forecast period. 'She acts like there is a surge in opportunity, but really she's spinning her terrible economic mismanagement to suit her. 'Just like her story on the cost of living, which is falling to pieces before her eyes as she can't find a single family who has received her campaign promise of $250 a fortnight. 'Today will also come as a shock to those who were expecting a Working for Families top up of $7 a week, as promised in the recent Budget – because that won't come in for another year. 'It was the only cost of living relief Nicola Willis could name on Budget Day and it isn't actually going to help anyone until April 2026. 'This Government is misleading on jobs, outlandishly overstating their tax cuts, and have failed to deliver on key cost of living promises. At the same time, they're cutting women's pay in favour of big tax breaks for tobacco, fossil fuel, and big tech companies,' Barbara Edmonds said.
Scoop
16-06-2025
- Politics
- Scoop
Te Pāti Māori Calls For Urgent Extension To Regulatory Standards Bill Submissions
Te Pāti Māori is demanding an immediate two-week extension to the submission deadline for the Regulatory Standards Bill, currently closing at 1pm on Monday, 23 June 2025. Repeated outages of Parliament's website and submission portal, including over the past weekend, have seriously undermined public access to this critical process. Tangata whenua, legal experts, and community voices have been blocked from engaging with a bill that has major constitutional implications. Today Te Pāti Māori has formally written to the Finance and Expenditure Committee requesting the extension. A rushed, inaccessible process sets a dangerous precedent for how Parliament consults on legislation of national significance.
Scoop
26-05-2025
- Business
- Scoop
Have Your Say On Public Finance Amendment Bill
Press Release – The Finance and Expenditure Committee He says the changes also dispense with the requirement for Treasury to produce a Wellbeing Report every four years. Whats more, governments will no long have to articulate the wellbeing objectives that guide Budget decisions. The Chair of the Finance and Expenditure Committee is calling for submissions on the Public Finance Amendment Bill. The closing date for submissions is 11.59pm on Monday, 7 July 2025. 'The proposed changes will enhance the transparency and accountability of our public finance system. They specifically aim to make the extent of fiscal risks clearer for incoming governments,' says Chair of the Finance and Expenditure Committee, Cameron Brewer. He says the changes also dispense with the requirement for Treasury to produce a Wellbeing Report every four years. What's more, governments will no long have to articulate the wellbeing objectives that guide Budget decisions. 'A second tranche of reforms to the Public Finance Act is likely next year, once our committee has completed its inquiry into performance reporting and public accountability,' says Mr Brewer. The bill would amend the Public Finance Act 1989. Among other things, the bill would: introduce more specific disclosure requirements for the statement of specific fiscal risks introduce a requirement to publish a tax expenditure statement repeal the requirement to articulate wellbeing objectives in the Budget Policy Statement repeal the requirement to prepare a wellbeing report amend the publication window for the pre-election economic and fiscal update. Tell the Finance and Expenditure Committee what you think: Make a submission on the bill by 11.59pm on Monday, 7 July 2025.
