Sharechat Logo

Corporate treating of Treasury requires audit


Thursday 21st July 2011 3 Comments

Text too small?

The New Zealand Debt Management Office must be independently audited to ensure they have secured the best borrowing deals for New Zealand in light of revelations that they have been regularly treated to lunch, dinner, sports and theatre tickets, and leisurely games of golf, the Green Party said today.

Treasury's Gift and Hospitality Register was released today after the existence of the existence of the Register was revealed after earlier questioning from Dr Norman in the Finance and Expenditure Select Committee. The Register shows Treasury staff received a total of 234 treats in the last year valued at $50 or more, a majority from the major banks.

"The disturbing frequency and value of gifts regularly given to senior staff within the Debt Management Office - 164 gifts in total - is something that should be closely looked at," said Green Party Co-leader Russel Norman.

"In one year alone, Westpac, ANZ, BNZ, Barclays, and Deutsche Bank made 118 gifts to Debt Management Office staff. These included lunches, dinners, and theatre and sports tickets.

"Such a culture of treating is outside of state sector rules and raises questions of a potential conflict of interest.

  General Finance Advertising    

Comments from our readers

On 21 July 2011 at 2:40 pm Bernie Fuller said:
Rather than have an independent audit, it should be the policy that free "gifts" cannot be accepted. This type of policy exists in a number of large companies both in NZ and overseas.
On 21 July 2011 at 4:12 pm H. said:
Accepting gift should be banned. It taints the whole process with corruption. The only purpose of gift in this context is to try to influence decisions. There are several first world countries where civil servants loose their job if they are found to have received gifts. This should also be the case in NZ.
On 22 July 2011 at 9:00 am Mark said:
There should be no debate. Gifts should be banned and it should be a sackable offence to accept any. Period.
Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report