Treasury ‘should be split into two depts’
PA Wellington The Treasury should be split into two departments, according to the chief economist of the Bank of New Zealand (Mr L. C. Bayliss). In an address to the Civil Service Institute, he said that such a split had recently been made in Australia. “Basically there should be one department to exercise over-all control of Government expenditure and ensure high standards of financial management within Government departments, with the other department carrying out the
primary task of advising on economic management,” he said. Mr Bayliss, who emphasised that the views he expressed were not necessarily' shared by the board and management of the Bank of New Zealand, said the Treasury’s responsibilities in both areas had “grown enormously.” “A split would lead, in my opinon, to improvements in both financial management and control and in over-all economic management, an opinion based partly' on Australian experience of their new organisation.”
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Press, 18 April 1979, Page 16
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156Treasury ‘should be split into two depts’ Press, 18 April 1979, Page 16
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