Government Financial Responsibility Act 2000

The Treasurer is to release a Government Financial Strategy Statement at least once in each calendar year.

A Government Financial Strategy Statement is to —

set out the Government’s medium‑term targets in relation to the financial element or elements relevant to each target;

explain how the targets are to be achieved;

indicate how the targets are related to the financial management principles;

contain a statement and summary under section 10(3), if required; and

indicate the time frames proposed for achieving the targets.

If the Government makes a significant change in its financial strategy, the Treasurer is to release a new Government Financial Strategy Statement, dealing with the matters listed in subsection (2), and giving the reasons for the change.

The new Government Financial Strategy Statement is to be released as soon as possible after the change in financial strategy, but in any case no later than when the next Government Financial Projections Statement is released.

If the financial strategy to be dealt with in a Government Financial Strategy Statement has not changed significantly from the financial strategy dealt with in the previous Government Financial Strategy Statement, then, instead of releasing a full Government Financial Strategy Statement in accordance with subsection (2), the Treasurer may release a Government Financial Strategy Statement to the effect that the information in the previous Government Financial Strategy Statement is still current.