Financial Review Debate — In Committee

Kia ora tātou, nō reira, good afternoon, honourable members. The Standing Orders provide for the financial review debate to be the Committee stage of the Appropriation (2005/06 Financial Review) Bill. The debate is organised into three distinct parts. It commences with a debate on the annual financial statements of the Government as reported on by the Finance and Expenditure Committee. Once this debate is disposed of, the Committee debates individual financial reviews of departments and Offices of Parliament as reported on by select committees. There is a list of financial reviews available for debate on the Table, along with the compendium of select committee reports.

The debate on the Government’s financial position may be fairly wide ranging, but the debates on the individual financial reviews of departments and Offices of Parliament should be relevant to their performance in the 2005-06 financial year and their current operations. A member may have no more than two calls on each financial review.

Four hours are allowed for these two segments of the financial review debate. At the conclusion of the 4 hours, a single question is put on the provisions of the bill. There is no amendment or debate on this question. The Chairperson reports the bill to the House and it is set down for third reading forthwith. There is no debate on the third reading.

I turn to the schedule of proposed questions. Will members please turn to the report of the Finance and Expenditure Committee on the annual financial statements of the Government. The question is that the report of the Finance and Expenditure Committee on the annual financial statements of the Government for the year ended 30 June 2006 be noted. I note that this report also relates to the Finance and Expenditure Committee’s financial review of Treasury, so the performance in the 2005-06 financial year and current operations of Treasury may also be debated.

Treasury

Financial Statements of the Government of New Zealand for the year ended 30 June 2006